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The Impact of the Economic Crisis on East Asia

Policy Responses from Four Economies Edited by Daigee Shaw, Academia Sinica, Taiwan and Bih Jane Liu, Vice President, Chung-Hua Institution for Economic Research, Taiwan
Written by a distinguished group of Asian social scientists, this study summarizes and synthesizes the economic impacts of the crisis on individual countries and their policy response since 2008, and in particular carefully scrutinizes the immediate and remote causes of the crisis. It not only offers an assessment of its impacts, and identifies specific country measures that can be undertaken to stabilize the situation, but also looks at the crisis from three important economic perspectives: that of a healthy fiscal system, international trade, and the energy market.
In Association with the Chung-Hua Institution for Economic Research
Extent: 232 pp
Hardback Price: $120.00 Web: $108.00
Publication Date: 2011
ISBN: 978 0 85793 169 6
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  • Asian Studies
  • Asian Economics
  • Economics and Finance
  • Asian Economics
This insightful book explores the economic conditions and policy response of four major East Asian economies in the wake of the 2008 global economic crisis.

Written by a distinguished group of Asian social scientists, this study summarizes and synthesizes the economic impacts of the crisis on individual countries and their policy response since 2008, and in particular carefully scrutinizes the immediate and remote causes of the crisis. It not only offers an assessment of its impacts, and identifies specific country measures that can be undertaken to stabilize the situation, but also looks at the crisis from three important economic perspectives: that of a healthy fiscal system, international trade, and the energy market.

This insightful research monograph will be gratefully received by academics in economics and development studies as well as by public policy think tanks. Government economic planning agencies in emerging countries, as well as international economic organizations and institutions such as World Bank and United Nations, will also find many key insights and important information in this path-breaking book.
Contributors: P. Chen, U.C. Chung, C.-C. Ho, Y.-S. Hsu, S.-C. Hu, M. Kawai, C.-H. Lin, C.-Y. Lin, B.J. Liu, C.-S. Mao, D. Shaw, C.-H. Shen, S. Takagi, J.-C. Wang, L.-R. Wang, Y. Yu
Contents:

Preface

PART I: FINANCIAL SYSTEM AND FINANCIAL CRISIS
1. The Global Financial Crisis: Lessons for Taiwan
Sheng-Cheng Hu

2. A Perspective on the US Dollar after the Current Financial Crisis: Lessons from the Fall of the Pound Sterling and the Gold Standard after World War I
Lee-Rong Wang

3. De-Privatization? Case Studies of Government Banks’ Performance in Developing Countries During the Financial Crisis
Chung-Hua Shen and Chih-Yung Lin

PART II: IMPACTS, CONSEQUENCES AND POLICY RESPONSES
4. Why World Exports are so Susceptible to the Economic Crisis: The Prevailing ‘Export Overshooting’ Phenomenon, with Particular Reference to Taiwan
Bih Jane Liu

5. The Impact of the Global Financial Crisis on the Taiwanese Economy and its Industrial Policy in Response
Jiann-Chyuan Wang and Chia-Hui Lin

6. The American Crisis and Korean Financial Distress
Un Chan Chung

7. Why Was Japan Hit So Hard by the Global Financial Crisis?
Masahiro Kawai and Shinji Takagi

8. China’s Policy Responses to the Global Financial Crisis
Yongding Yu

PART III: POLICY CONSTRAINTS
9. Fiscal Discipline in the Recovery from a Global Financial Crisis
Chih-Chin Ho, Yu-Shan Hsu and Ching-Shin Mao

10. A Challenge to Sustainable Development: The Dual Crisis of Energy and the Economy
Daigee Shaw and Pi Chen

Index