Publication:
Trade and the East Asian Crisis

dc.contributor.author Hoekman, Bernard
dc.contributor.author Martin, Will
dc.date.accessioned 2012-08-13T15:22:44Z
dc.date.available 2012-08-13T15:22:44Z
dc.date.issued 1998-04
dc.description.abstract This economic policy note addresses the issue of the East Asian financial crisis, suggesting that recent trade socks, were both a cause and a consequence of this crisis. It further suggests that, though it appears that these trade shocks were largely cyclical in nature, structural changes and policy choices may also have played a role. Dramatic trade changes in the region took place, where the region's overall imports dropped by 4 percent, with a significant 18 percent drop in imports from Japan. Export growth is considered to be a major prospect for short-term economic expansion in the region, depending in part on the composition and pattern of trade flows. The note also suggests that policy implications should be considered, such as heavy investments in education and skills upgrading. Furthermore, macroeconomic policies will be required to capitalize on the initial boost to competitiveness, provided by recent devaluations in the region. The inevitable risk of adjustment pressures in OECD markets exists, though raising barriers should be avoided, since this would harm East Asia's recovery. en
dc.identifier http://documents.worldbank.org/curated/en/1998/04/438766/trade-east-asian-crisis
dc.identifier.uri http://hdl.handle.net/10986/11553
dc.language English
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries PREM Notes; No. 3
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject TRADE
dc.subject FINANCIAL CRISES
dc.subject IMPORTS
dc.subject EXPORT PERFORMANCE
dc.subject ECONOMIC RECOVERY
dc.subject TRADE ISSUES
dc.subject POLICY REFORM
dc.subject MACROECONOMIC POLICY
dc.subject MACROECONOMIC REFORM
dc.subject COMPETITION (ECONOMIC)
dc.subject BARRIERS
dc.subject EXPORT MARKETS AVERAGE TARIFFS
dc.subject CHANGES IN TRADE
dc.subject COMPETITIVENESS
dc.subject CURRENCY
dc.subject DEBT
dc.subject DEMAND SHOCKS
dc.subject DEVALUATION
dc.subject DEVELOPMENT ECONOMICS
dc.subject DOMESTIC DEMAND
dc.subject ECONOMIC EXPANSION
dc.subject ECONOMIC POLICY
dc.subject EXCHANGE RATES
dc.subject EXPORT GROWTH
dc.subject EXPORT MARKET
dc.subject EXPORT MARKETS
dc.subject EXPORT PRICES
dc.subject EXPORT SHARE
dc.subject EXPORT SHARES
dc.subject EXPORT VOLUME
dc.subject EXPORT VOLUMES
dc.subject EXPORTERS
dc.subject FINAL GOODS
dc.subject FINANCIAL CRISIS
dc.subject GDP
dc.subject GLOBAL EXPORTS
dc.subject GROSS EXPORTS
dc.subject HIGH TARIFFS
dc.subject IMPORT PRICES
dc.subject IMPORTS
dc.subject INCOME
dc.subject INCOME EFFECT
dc.subject INFLATION
dc.subject INTRAREGIONAL TRADE
dc.subject MACROECONOMIC POLICIES
dc.subject MARKET SHARE
dc.subject NATURAL RESOURCES
dc.subject NET EXPORTS
dc.subject PREFERENTIAL TRADE
dc.subject PRIVATE CONSUMPTION
dc.subject REAL EXCHANGE RATE
dc.subject REAL EXCHANGE RATES
dc.subject REGIONAL TRADE
dc.subject SHARE OF WORLD EXPORTS
dc.subject SPECIALIZATION
dc.subject TERMS OF TRADE
dc.subject TRADABLE GOODS
dc.subject TRADE AGREEMENT
dc.subject TRADE DIVERSION
dc.subject TRADE FLOWS
dc.subject TRADE LIBERALIZATION
dc.subject TRADE PATTERNS
dc.subject TRADE POLICY
dc.subject TRADE POLICY REFORMS
dc.subject TRADE REGIMES
dc.subject TRADE SHOCKS
dc.subject TRADE SURPLUS
dc.subject WORLD MARKETS
dc.title Trade and the East Asian Crisis en
dc.title.alternative El comercio y la crisis de Asia oriental en
dspace.entity.type Publication
okr.doctype Publications & Research :: Brief
okr.doctype Publications & Research
okr.docurl http://documents.worldbank.org/curated/en/1998/04/438766/trade-east-asian-crisis
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Environment and Natural Resources
okr.globalpractice Trade and Competitiveness
okr.identifier.externaldocumentum 090224b082ee9c93_2_0
okr.identifier.internaldocumentum 438766
okr.identifier.report 18568
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2000/02/24/000094946_99031910534216/Rendered/PDF/multi_page.pdf en
okr.region.administrative East Asia and Pacific
okr.topic International Economics and Trade :: Free Trade
okr.topic International Economics and Trade :: Trade Policy
okr.topic Economic Theory and Research
okr.topic International Economics and Trade :: Export Competitiveness
okr.topic Environmental Economics and Policies
okr.topic Macroeconomics and Economic Growth
okr.topic Environment
okr.unit Development Economics and Chief Economist
okr.volume 1 of 1
relation.isAuthorOfPublication 49a06ad1-63d4-5c3a-8b66-c6c3009e9cdf
relation.isAuthorOfPublication d6af18a6-3a50-5065-99ee-20853402f262
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