IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v22y1998i6p693-706.html
   My bibliography  Save this article

From 'Miracle' to 'Cronysim': Explaining the Great Asian Slump

Author

Listed:
  • Wade, Robert

Abstract

Was the Asian slump caused by the buildup of vulnerabilities in the real economy, with panicky investor pullout as merely the trigger or messenger of a necessary market correction? Or was it caused largely by the normal workings of underregulated national and international financial markets, the panicky pullout itself being a prime cause? The short answer is some of both. This paper describes the double helix-like interaction of real and financial causes. It then outlines a strategy of escape from crisis, including the reintroduction of capital controls and creation of an Asian financial facility. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Wade, Robert, 1998. "From 'Miracle' to 'Cronysim': Explaining the Great Asian Slump," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(6), pages 693-706, November.
    • Handle: RePEc:oup:cambje:v:22:y:1998:i:6:p:693-706
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Haider A. Khan, 2004. "General Conclusions: From Crisis to a Global Political Economy of Freedom," Palgrave Macmillan Books, in: Global Markets and Financial Crises in Asia, chapter 9, pages 193-211, Palgrave Macmillan.
    2. Gary A. Dymski, 2010. "A Spatialized Approach to Asset Bubbles and Minsky Crises," Chapters, in: Dimitri B. Papadimitriou & L. Randall Wray (ed.), The Elgar Companion to Hyman Minsky, chapter 12, Edward Elgar Publishing.
    3. Chang Woon Nam, 2008. "What Happened to Korea Ten Years Ago?," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 9(04), pages 69-73, December.
    4. Jan Toporowski, 2013. "The Elgar Companion to Hyman Minsky," Review of Political Economy, Taylor & Francis Journals, vol. 25(1), pages 175-177, January.
    5. Wade, Robert Hunter, 2016. "Industrial policy in response to the middle-income trap and the Third Wave of the digital revolution," LSE Research Online Documents on Economics 69649, London School of Economics and Political Science, LSE Library.
    6. Benjamin Powell, 2005. "State Development Planning: Did it Create an East Asian Miracle?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 18(3), pages 305-323, December.
    7. José Donadieu, 2003. "La libéralisation financière : une déstructuration de la cohérence des modèles de développement thaïlandais et malais," Revue Tiers Monde, Programme National Persée, vol. 44(173), pages 171-194.
    8. Matthew D. Mitchell, 2019. "Uncontestable favoritism," Public Choice, Springer, vol. 181(1), pages 167-190, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:22:y:1998:i:6:p:693-706. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/cje .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.