Broader Analytical Issues

  • Hal Hill


Beyond the short-run considerations, major events such as these demand a reconsideration of the big policy framework, in an effort to avoid the recurrence of painful and traumatic episodes. As Garnaut (1998, p. 10) has argued:

The shock of 1997 is a defining event in the economic history of East Asia. Like the Great Depression in the West, it has the capacity to change thought about economic development and economic policy in fundamental ways.


Exchange Rate Monetary Policy Banking Sector Capital Flow Capital Account 
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Copyright information

© Institute of Southeast Asian Studies, Singapore 1999

Authors and Affiliations

  • Hal Hill

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