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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. Eichengreen, Barry & Rose, Andrew K & Wyplosz, Charles, 1996. "Contagious Currency Crises," CEPR Discussion Papers 1453, C.E.P.R. Discussion Papers.
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    4. 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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