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What Happened to Asian Exports During the Crisis? Antonio Spilimbergo

What Happened to Asian Exports During the Crisis?

Antonio Spilimbergo

Published December 1st 2000
ISBN : 9781282044272
ebook
33 pages
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 About the Book 

During the financial crisis in 1997-98, export revenues of many East Asian countries did not increase in spite of massive depreciation by the afflicted economies.2 The depreciations led to sharp declines in dollar-denominated export prices with veryMoreDuring the financial crisis in 1997-98, export revenues of many East Asian countries did not increase in spite of massive depreciation by the afflicted economies.2 The depreciations led to sharp declines in dollar-denominated export prices with very modest increases in export volumes. The absence of a quick response of exports to depreciation played a key role in prolonging the East Asian crisis and is puzzling from an analytical point of view.