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The East Asian crisis : investigating causes and policy responses (anglais)

The authors identify as the primary cause of the East Asian crisis a fundamental reassessment of the profitability of investments in the region. They identify a number of secondary shocks as well, including interest risk premia, monetary expansion, and declines in output brought about by failures of the financial market. Unlike the Latin American crisis of the 1980s, the East Asian crisis did not reflect commodity price shocks, large changes...
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