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Singapore

In: Trauma to Triumph Rising from the Ashes of the Asian Financial Crisis

Author

Listed:
  • Hoe Ee Khor
  • Diwa C. Guinigundo
  • Masahiro Kawai

Abstract

As a small, open economy and financial center, Singapore inevitably experienced a downturn in a region-wide crisis. However, it did not suffer as much duress as its neighbors because of its strong economic fundamentals. But the Asian financial crisis (AFC) had a longer-term impact that prompted a reorientation of Singapore's long-term economic strategies. The crisis also saw Singapore play a prominent role in giving feedback and advice to the international community, including the International Monetary Fund (IMF), on solutions to the crisis. Singapore also participated in the financial assistance programs for Thailand and Indonesia and, like the other regional economies, actively supported cross-border financial surveillance and capacity building in the post-AFC era.

Suggested Citation

  • Hoe Ee Khor & Diwa C. Guinigundo & Masahiro Kawai, 2022. "Singapore," World Scientific Book Chapters, in: Hoe Ee Khor & Diwa C Guinigundo & Masahiro Kawai (ed.), Trauma to Triumph Rising from the Ashes of the Asian Financial Crisis, chapter 9, pages 151-159, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789811253560_0009
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    More about this item

    Keywords

    ASEAN+3; Asian Financial Crisis; Global Financial Crisis;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F3 - International Economics - - International Finance

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