Two crises, different outcomes: East Asia and global finance

This text examines East Asian policy reactions to the two major crises of the last fifteen years: the global financial crisis of 2008-9 and the Asian financial crisis of 1997-98.

The calamity of the late 1990s saw a massive meltdown concentrated in East Asia.

In stark contrast, East Asia avoided the worst effects of the Lehman Brothers collapse, incurring relatively little damage when compared to the financial devastation unleashed on North America and Europe.

This authors of this book explain how the earlier financial crisis affected Asian economies, why government reactions differed so widely during that crisis, and how Asian economies weathered the Great Recession.