Journal Article

Could we have learned from the Asian financial crisis of 1997–98?

Abstract: Economists drew a number of lessons from the Asian financial crisis of 1997?98 for preventing such episodes or mitigating their effects. Some of those are similar to lessons drawn from the global financial crisis of 2007?09. But differences in economic development and sophistication of the financial systems of East Asian countries compared with those of the United States and Western Europe made it difficult to apply the lessons of the earlier crisis.

Keywords: Financial crises; Financial crises - Asia;

Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: FRBSF Economic Letter

Publication Date: 2011

Order Number: 06