Financial crisis in East Asia: "The end of the Asian model"?

Singh, Ajit (1998): Financial crisis in East Asia: "The end of the Asian model"? Published in: Issues in Development, ILO Discussion Paper No. No.24 (20 March 1998): pp. 1-30.

Abstract

Abstract

As the East Asian economic crisis has unfolded over the last six months, it has become common place for informed Western commentators to suggest that the crisis has essentially been caused by the specific model of capitalism -- the so-called “Asian model”-- that these countries had been following. It is admitted that this model had been quite successful in delivering fast economic growth for some time, but it is suggested that it was ultimately doomed to failure because of its incompatibility with free markets.

• Item Type: MPRA Paper
• Language: English
• Keywords: East Asia, economic crisis 1997-98, Asian model of capitalism, free markets
• Subjects: F - International Economics > F0 - General; F - International Economics > F6 - Economic Impacts of Globalization; P - Economic Systems > P0 - General

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