The East Asian financial crisis: diagnosis, remedies, prospects

Article Abstract:

A number of factors contributed to the continuing East Asian economic crisis which began in the middle of 1997. Economies of East Asian countries such as Indonesia, Thailand and Korea, which have been the hardest hit, were marked by corporate management and corruption. These anomalies resulted in the severe crippling of the countries' financial systems. Moreover, several global macroeconomic upheavals including the Mexico financial crisis in 1994 and 1995, also contributed, albeit not much, to the East Asian crisis. The IMF's capital lending without properly eliminating the true reasons of the crisis, aggravated the already weakening economies.

Economics, Research and Development in the Social Sciences and Humanities, East Asia, Depressions, Economic depressions

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Economic reform and the process of global integration

Article Abstract:

A global economic system is emerging in 1995. The new World Trade Organization and the International Monetary Fund are two institutions taking active roles in this development. Reforming countries from the developing world and the post-communist world aim for global integration. Global integration and its effect on the economic growth of these countries are analyzed. Evidences of convergence of open economies during 1979-1989 and increased growth in countries implementing market reforms are presented.

International Monetary Fund, International aspects, Developing countries, International economic relations, World Trade Organization, International economic integration, Economic integration

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Prospects for Russia's economic reforms

Article Abstract:

The chances of sustained success of Russia's radical economic and political reforms since the fall of the Societ empire are viewed with pessimism. Nevertheless, recovery andproductivity is possible if the economic as well as political aspects of reformare managed properly. The potential role of Western entities such as the World Bank, the IMF, G7 countries and the EC are considerable.

Russia, Economic development, International relations, Russian foreign relations, Group of 7

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