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Post-Crisis Asian Economies: Some New Industrial Prospects

  • Yveline Lecler
  • Jean-Christophe Simon
Conference paper

Abstract

Asian economies are back on growth tracks, or so it seems. Whereas various comments in mid-1998 questioned the future of Asian economies — particularly Newly Industrialized Economies of East and Southeast Asia, a year later amazed comments applauded the resurgence of growth1. As for the year 2000, the rosy mood based on overall growth performance in Asian emerging countries. The so-called Asian crisis vanished in early 1999 although some major structural issues such as bad loans, companies restructuring and stock exchange instability are still at the forefront of economic life. The Asian crisis was indeed a multi-faceted crisis in a new context of globalization: monetary (as a consequence of weak currency management in Thailand and other ASEAN countries), financial (partly derived from asset speculative bubbles), industrial (evidence of this is clear in the case of chaebol conglomerates failures in Korea, and also in the competitiveness issues in some ASEAN-4 countries in the years preceding the crisis), political (cronyism aggravating the structural failures, inefficiencies in State institutions, supervision and legal capabilities) and social (affecting the new middle class consumers).

Keywords

Electronic Industry Foreign Ownership Japanese Firm Asian Crisis Credit Crunch 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Japan 2002

Authors and Affiliations

  • Yveline Lecler
    • 1
  • Jean-Christophe Simon
    • 2
  1. 1.University Lumière Lyon2France
  2. 2.University Pierre Mendès FranceGrenobleFrance

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