Publication
2004
This paper examines the impact of Southeast Asia's currency crises in 1997 on the net worth of individual governments. The author uses data from the currency crises in Korea, Thailand, Indonesia, Philippines and Malaysia. The results show that currency crises in the 1990s worsened the fiscal situation for individual countries in the region. The author shows that this goes against the assumption that devaluation serves to balance inter-temporal budget constraints.
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English (PDF, 18 pages, 614 KB) |
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Author | Guillermo Tolosa |
Series | East-West Center Working Papers |
Issue | 11 |
Publisher | East-West Center (EWC) |
Copyright | © 2004 East-West Center (EWC) |