The Philippine economy in the Asian crisis

Article Abstract:

Several factors helped the Philippines avoid the worst possible outcome of the Asian economic crisis. The Philippines' macroeconomic fundamentals helped the country realize a fiscal surplus for four years straight. The surge in capital inflows also permitted the central bank to establish reserves through the purchase of dollars and promote a fixed nominal exchange rate. However, the country's economy is anticipated to become vulnerable to the economic crisis if the crisis spreads beyond Asia and continues much longer.

Philippines

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The Asian financial crisis: Singapore's experience and response

Article Abstract:

Singapore has not been hit as hard by the Asian economic crisis despite its very open economy. However, Singapore has been significantly affected through the currency and asset sectors, and the banking and corporate markets. The country has promoted a policy response to the crisis that focuses on strengthening the domestic financial system and enhancing the economy's international competitiveness.

Singapore

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