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- W109767281 abstract "The recent Asian crisis had two main causal components: a cyclical component and a structural component. The cyclical component derives from mistakes of macroeconomic policy—mainly monetary policy—which can be solved relatively easily, at least from a technical perspective, although the political impediments to solving the monetary problems should not be underestimated. The cyclical component explains the timing of the crisis, but it does not penetrate deeper questions as to the sustainability of Asia’s distinctive growth characteristics. The structural component of Asia’s crisis is both more difficult to define and more difficult to solve. The problems are often microeconomic in nature, but they are so pervasive and so deeprooted that they reach far into the politics and culture of Asian societies. This makes it hard to propose an all-encompassing analytical framework that is not subject to numerous exceptions. However, in this paper I attempt to show that an adaptation of the standard AngloAmerican political and economic system can offer insights that help to explain numerous aspects of the Asian growth model." @default.
- W109767281 created "2016-06-24" @default.
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- W109767281 date "2000-01-01" @default.
- W109767281 modified "2023-09-23" @default.
- W109767281 title "The Real Issues in Asia" @default.
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