The 10th Anniversary of the Asian Financial Crisis
The 10th Anniversary of the Asian Financial Crisis: Lessons Learned, Critical Assessments, and Charting the Path Forward
Woodrow Wilson International Center for Scholars
This year marks ten years since the onset of the Asian financial and economic crisis. Decades of economic progress in East and Southeast Asia were jeopardized, as daunting levels of poverty, unemployment, and social inequality beset the most affected countries -- Indonesia, Thailand, Korea, the Philippines, and Malaysia. Ten years onwards, it is imperative to re-examine the debates on free capital mobility in developing countries, the role of international financial institutions, the structural flaws in domestic banking and financial sectors, and the macroeconomic policy framework that was used to respond to the Asian financial crisis. To this end, CPER, the Asia Program of the Woodrow Wilson Center, and the Sasakawa Peace Foundation-USA sponsored three panels to discuss these issues.
Read the event summary.
Panel I: Remembering the Asian Financial Crisis: Causes, effects, results, and the lessons learned
Panel II: The International Financial System and the International Monetary Fund: Assessing the links between economic and financial globalization and the Asian financial crisis
Panel III: Charting the Path Forward: Identifying policy initiatives amidst new developments in global and regional political economy