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How Taiwan Weathered the Asian Financial Crisis

Author

Listed:
  • Erh-Cheng Hwa

    (Poverty Alleviation and Economic Management Unit, East Asia and Pacific Region, The World Bank, Washington, DC, USA)

Abstract

This paper attempts to explain why Taiwan was able to cope with the East Asian financial crisis more successfully than other economies in East Asia. It pinpoints Taiwan's competitive industrial sector as the most likely relevant underlying factor. It also shows that while sound macroeconomic policy and prudent financial policy all contributed to allowing Taiwan to avert the crisis, an effective industrial policy that fostered industrial restructuring, strengthened industrial competitiveness, as well as helped to restore macroeconomic equilibrium, was the most instrumental factor.

Suggested Citation

  • Erh-Cheng Hwa, 2000. "How Taiwan Weathered the Asian Financial Crisis," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 3(04), pages 491-518.
    • Handle: RePEc:wsi:rpbfmp:v:03:y:2000:i:04:n:s0219091500000248
    DOI: 10.1142/S0219091500000248
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    Citations

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    Cited by:

    1. Li-Hua Lai & Li-Chin Hung & Chau-Jung Kuo, 2016. "Do Well-Financial Holding Company Organized Banks in Taiwan Take More Risk?," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 19(04), pages 1-30, December.
    2. repec:kap:iaecre:v:12:y:2006:i:2:p:203-211 is not listed on IDEAS
    3. Yu Hsing, 2006. "Analysis of Output Fluctuations in Taiwan: An Application of the IS–MP–AS Model," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 12(2), pages 203-211, May.

    More about this item

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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