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Was China the first domino? Revisiting the Asian currency crisis

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  • Khan, Saleheen
  • Islam, Faridul

Abstract

The link of baht devaluation to crisis identifies Thailand as the first domino in the Asian crisis. Others assign responsibility to the 1994 Chinese devaluation. Establishing first domino needs further academic scrutiny. We find Chinese devaluation presaging the crisis through export slow-down from her Asian partners.

Suggested Citation

  • Khan, Saleheen & Islam, Faridul, 2008. "Was China the first domino? Revisiting the Asian currency crisis," Economics Letters, Elsevier, vol. 98(3), pages 275-281, March.
    • Handle: RePEc:eee:ecolet:v:98:y:2008:i:3:p:275-281
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    References listed on IDEAS

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    1. Aaron Tornell, 1999. "Common Fundamentals in the Tequila and Asian Crises," Harvard Institute of Economic Research Working Papers 1868, Harvard - Institute of Economic Research.
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    7. Fernald, John & Edison, Hali & Loungani, Prakash, 1999. "Was China the first domino? Assessing links between China and other Asian economies," Journal of International Money and Finance, Elsevier, vol. 18(4), pages 515-535, August.
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    Cited by:

    1. Burdekin, Richard C.K. & Siklos, Pierre L., 2012. "Enter the dragon: Interactions between Chinese, US and Asia-Pacific equity markets, 1995–2010," Pacific-Basin Finance Journal, Elsevier, vol. 20(3), pages 521-541.

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