THE ASIAN FINANCIAL CRISIS THE MIRAGE OF A MIRACLE

Reminiscent of the 'Asian ...' triggered by Thailand in 1997, which became a full-blown financial crisis, other Asian stock indices reacted to the Thai news with sharp falls on Tuesday: [r]

19
The safe-asset shortage view proposed by Caballero (2010) also appears to fail to distinguish sufficiently clearly between gross and net flows. By adding a portfolio-preference dimension to the basic ES story, it essentially ties the net outflow of emerging[r]

from new information. Since there is no reason to expect that information to be non-random in appearance, the period-to-period price changes of a stock should be random movements, statistically independent of one another’’.
The efficient market hypothesis has b[r]

a leading consumer products company, reported a pretax loss of  million, the largest derivatives loss by a nonfinancial firm, stemming from OTC interest and foreign exchange rate derivatives sold to it by Bankers Trust. Procter & Gamble sued Bankers Trust[r]

Using the GMM estimator, this paper empirically studies the bank-specific, industry specific and macroeconomics specific determinants of bank profitability of 259 commercial banks in the South Asian countries (Bangladesh, India, Nepal and Pakistan) for the period of 1997-2012. Empirical results show[r]

2004, 6. • Tài li u là t p chí khoa h c chuyên ngành Doe, J. R. (1987). “Tên bài nghiên c u”. ệ ạ ọ ứ Tên t p chí khoa h c, 35, 112-128. Bùi T t Th ng. (2004). “Toàn c u hoá và c may rút c a ạ ọ ấ ắ ầ ơ ủ công nghi p hoá rút ng n Vi t Nam” . Nghiên c u Kinh t , 314, 40-51. ệ ắ ệ ứ ế
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This research analyses the impacts of GFC on some Asian Emerging Economies and the rebound of these countries after the GFC, as well as discusses the reasons for the rebound. Some main reasons indicated in the paper include the resilient financial system and sound monetary and fiscal policies and in[r]

Despite some erosion of financial governance in Malaysia from the mid-1980s, the tighter regulation of the financial sector in Malaysia, compared to its neighbors, rendered it less vulnerable to the reversal of short-term bank lending. However, earlier[r]

can (Cuñat 2007). As a result of the reduced buyer opportunism in all the above cases suppliers are willing to lend more liberally.
Another possible determinant of trade credit use lies in the supplier’s better ability to liquidate the goods suppl[r]

First, the paper empirically examines the growth of nonbank deposit liabilities (NBDL) of the Islamic banks of Bahrain during the pre-global financial crisis (PREGFC) and the global financial crisis (GFC) to determine whether the global financial crisis (GFC) has had any impact on that growth. The p[r]

exchange rate before competitor countries devalue is not likely to remain
32. Goldstein and Hawkins (1998) measure the relative impact of the crisis on individual Asian emerging economies by the decline in exchange rates and equity prices in the sec[r]

xxx ◾ Introduction
the possible consequences for the design as well as the regulation of the fi nancial system in the future.
In Chapter 26, the authors state that a “bank run” corresponds to the phenomenon where people run[r]

The responsibility to investigate and prosecute mortgage fraud violations falls to local, state and federal law enforcement officials. On the federal level, the Federal Bu- reau of Investigation investigates and refers cases for prosecution to U.S. Attorneys, who are part[r]

Vulnerability
2.3 In low-income countries and fragi- le states, the ability of governments to
respond to the crisis is severely constrai- ned by the erosion of their fiscal space as revenues fall. In these vulnerable coun- tries (Table 5), development ac[r]

d. the Vietnamese government could not protect the economy from the East Asian financial crisis in 997.
Fill in each numbered blank with one suitable word or phrase.
Economic issues have occupied people's minds throughout the ages. Aristotle and[r]

Attempting to reduce its overall risk to subprime residential mortgage-related securities meant that the firm at various times would find itself net short, though not significantly so.
B. Concerns about Short Positions
It was well known that housing prices were weakening in early 2007. But n[r]

By 2008, Citigroup, Merrill, UBS and several other major LCFIs were crippled by losses resulting from their exposure to nonprime mortgages and related instruments. 360 Why did LCFIs and CRAs fail to appreciate the risks they were assuming by creating multiple layers of[r]

reached at the G-20 conference in Washington D.C. on November 15, 2008, the implementation of concrete measures was not addressed until the G-20 conference in London on April 2, 2009.
Efforts to master the crisis have fallen short so far. Measures have[r]

Chapter 1 - An overview. After reading the material in this chapter, you should be able: To identify factors that have led to the prominence of international finance, to explain the role of the financial manager, to verify the internationalisation of finance, to identify the developments leading to[r]

Since the financial crisis hit global financial markets and leads global economies into recession, people has had little confidence in the market. It exposed the poor mechanism of internal and external supervision, and the significance of corporate governance is getting noticed. Most enterprises in[r]