Asian Crisis Related Papers

"What Caused the Asian Currency and Financial Crisis? Part  I : A Macroeconomic  Overview" by Nouriel Roubini, Giancarlo Corsetti and Paolo Pesenti (revised version, September  1998)  (the file is in PDF format ; you need the Acrobat Reader to read it)

"What Caused the Asian Currency and Financial Crisis? Part  II: The Policy Debate" by Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini (revised version, September 1998)

"Paper Tigers? A Model of the Asian Crisis" by Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini (revised December  1998) (the file is in PDF format) 

"Fundamental Determinants of the Asian Crisis: A Preliminary Assessment" by Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini (November 1998)

Trade and Contagious Devaluations: A Welfare-Based Approach by Giancarlo Corsetti, Paolo Pesenti, Nouriel Roubini and Cedric Tille (revised December 1998)

Analytical afterthoughts on the Asian crisis   by Paul Krugman 9/12/99

Balance sheets, the transfer problem, and financial crises by Paul Krugman (12/98) 

Self-Protection for Emerging Market Economies by Martin Feldstein NBER Working Paper No. 6907 (1/99)

Contagion In Emerging Markets: when Wall Street is a carrier (Technical Supplement to "Understanding the Russian Virus") by Guillermo Calvo (1/99)

1999 Economic Report of the President (See Chapter 6: Capital Flows in the Global Economy and Chapter 7: The Evolution and Reform of the International Financial System) (February 1999)  (PDF file)

Steven Radelet and Jeffrey Sachs, "What have we learned, so far, from the East Asian Financial Crisis?"  (1/99)

Currency Crises by Paul Krugman (10/97)

"The Onset of the East Asian Financial Crisis" by Steve Radelet and Jeffrey Sachs (3/98)

"What Happened to Asia?" by Paul Krugman (Jan 1998)

World Bank.  East Asia: The Road to Recovery (10/98)

IMF's Analysis of the Asian Crisis  (December 1997)

"Financial Crises in Emerging Markets: A Canonical Model" by  Roberto Chang and Andres Velasco NBER Working Paper No. 6606, June 1998

A Simple Model of Monetary Policy and Currency Crisis by Philippe Aghion, Philippe Bachetta and Abhijit Banerjee  (9/99)

"Fire-sale" FDI by Paul Krugman

"The Global Capital Market: Benefactor or Menace?" by Maurice Obstfeld NBER Working Paper No. 6559, May, 1998

Volatility and Contagion in a Financially-Integrated World: Lessons from East Asia’s Recent Experience
by Pedro Alba, Amar Bhattacharya, Stijn Claessens, Swati Ghosh, and Leonardo Hernandez (8/98)

Are Currency Crises Predictable? A Test by Andrew Berg and Catherine Pattillo, IMF (12/98)

"Explaining Currency Crises" by Gerardo Esquivel and Felipe Larrain (6/98)

Domestic Causes of Currency Crises: Policy Lessons for Crisis Avoidance by Helmut Reisen (OECD 6/98)

Hedge Funds and the Asian Currency Crisis of 1997 by William N. Goetzmann, Stephen J. Brown and James Park

Do foreign investors destabilize stock markets? The Korean experience in 1997  by Hyuk Choe, Bong-Chan Kho, and René M. Stulz, June 1998

Asset Bubbles, Domino Effects and ‘Lifeboats’: Elements of the East Asian Crisis by  Hali J. Edison, Pongsak Luangaram, and Marcus Miller

"The East Asian Financial Crisis:  Diagnosis, Remedies, Prospects." by Steven Radelet and Jeffrey Sachs (4/98)

The Asian Financial Crisis: Causes, Cures, and Systemic Implications by Morris Goldstein (6/98)

The Asian Liquidity Crisis by Roberto Chang and Andres Velasco (July 1998)

Creditor Panics: Causes and Remedies by Jeffrey Sachs (10/98)

"The Asian Crisis: Is there a Way out?  Are the IMF Prescriptions Right? by W. Max Corden

East Asia in Crisis: From being a miracle to needing one? book edited by Ross Garnaut and Ross McLeod (11/98)

The Crisis in Asia: an Empirical Assessment by Warwick McKibbin

Before the Fall: Were East Asian Currencies Overvalued? by Menzie Chinn

Was China the First Domino? Assessing Links between  China and the Rest of Emerging Asia by  John G. Fernald, Hali J. Edison, and Prakash Loungani

"Asian Competitive Devaluations" by  Ligang Liu, Marcus Noland,  Sherman Robinson and  Zhi Wang

The East Asian Crisis: Investigating Causes and Policy Responses by Warwick McKibbin and Will Martin (September 1998)

Ronald McKinnon: Exchange Rate Coordination for Surmounting the East Asian Currency Crises (8/98)

 Is There a Credit Crunch in East Asia? by Wei Ding, Ilker Domaç, and Giovanni Ferri

The East Asia Crisis Papers from a Workshop at the Institute of Development Studies (7/98)

Ronald I. McKinnon and Huw Pill -- International Overborrowing: A Decomposition of Credit and Currency Risks

The Korean Financial Crisis of 1997-1998 by Irma Adelman and Song Byung Nak (8/98)

Which Capitalism? Lessons from the East Asian Crisis  by Luigi Zingales and Raghuram G. Rajan, (9/98)

TFPG Controversies, Institutions, and Economic Performance in East Asia by Dani Rodrik  NBER Working Paper No. 5914, February 1997

Prospective Deficits and the Asian Currency Crisis by Burnside, Eichenbaum and Rebelo (10/98)

The Economic Miracle in a Haze by Manuel F. Montes

Sequencing Capital Account Liberalization - Lessons from the Experiences in Chile, Indonesia, Korea, and Thailand by Johnston, R Barry, Darbar, Salim M and Echeverria, Claudia; IMF Working Paper

Developments in East Asia and their implications for the UK and Europe by Ray Barrell and Nigel Pain

Currency Crises: Is Asia Different? by Markus Diehl and Rainer Schweickert

The continuing Asian Financial Crisis: Global Adjustment and Trade by Marcus Noland, Sherman Robinson and Zhi Wang  (1/99)

Speculative Capital Inflows and Exchange Rate Targetting in the Pacific Basin: Theory and Evidence by Ken Kletzer and Mark Spiegel, (9/96)

Current Account Sustainability: Selected East Asian and Latin American by Gian Maria Milesi-Ferretti and Assaf Razin; NBER Working Paper No. 5791

Exorcising Asian Debt: Lessons from Latin American Rollovers, Workouts, and Writedowns by Vinod K. Aggarwal

Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation--with Reference to the Asian Financial Crisis
by Jorge A. Chan-Lau and Zhaohui Chen (IMF August 1998)

The East Asian Financial Crises: An Analytical Survey by Pablo Bustelo (10/98)

The Global Financial Crisis: a "Centre for the Study of Globalisation and Regionalisation" Perspective

"Contagion, Monsoons, and Domestic Turmoil in Indonesia: A Case Study in the Asian Currency Crisis" by Valerie Cerra and Sweta Chaman Saxena (10/98)

"Monetary Policy in the Aftermath of Currency Crises: the Case of Asia" by Ilan Goldfajn and Taimur Baig (10/98)

The impact of the East Asian Crisis on Thailand, a Micro Survey Study by Gerard Adams

"Currency Crisis in Korea: How Has It Been Aggravated?" by Daekeun Park and Changyong Rhee