Why china survived the asian financial crisis?
By: SHARMA, Shalendra D
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ArticlePublisher: São Paulo : Editora 34, abr./jun. 2002Revista de Economia Política = Brazilian Journal of Political Economy 22, 2 , p. 32-58Abstract: The Chinese economy shows a remarkable resemblance to those of pre-crisis Thailand, Indonesia, South Korea and Malaysia -- especially the asset bubbles, high reliance on banking intermediation, poor prudential supervision, and fragility of the financial system. Yet, China defied the common prediction and did not succumb to the financial crisis. What explains the China ability to withstand a major region-wide financial crisis? This study addresses this complex question, besides elaborating the reform measures China must implement to immune itself from future financial crises or its contagion effects
The Chinese economy shows a remarkable resemblance to those of pre-crisis Thailand, Indonesia, South Korea and Malaysia -- especially the asset bubbles, high reliance on banking intermediation, poor prudential supervision, and fragility of the financial system. Yet, China defied the common prediction and did not succumb to the financial crisis. What explains the China ability to withstand a major region-wide financial crisis? This study addresses this complex question, besides elaborating the reform measures China must implement to immune itself from future financial crises or its contagion effects
v. 22, n. 2(86)
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