Can Asia Overcome the IMF Stigma?
- (pp. 198-202)
AbstractAsian countries still have the IMF stigma, which originates from the experiences of the Asian crisis of 1997-98. The feeling of being unfairly treated grew even stronger afterward. The Asian countries built large foreign reserves, carried out structural reforms, and became even stronger than pre- crisis period. Asians are confident in not repeating the same mistake of falling into a crisis with too much external borrowing. Whether IMF can entice Asia to new precautionary liquidities facilities remains uncertain. Asia may choose either to focus on completing a regional safety net or to engage in IMF, demanding for a greater voice and votes.
Citation2012. "Can Asia Overcome the IMF Stigma?" American Economic Review, 102(3): 198-202. DOI: 10.1257/aer.102.3.198
- F33 International Monetary Arrangements and Institutions
- O19 International Linkages to Development; Role of International Organizations
- O24 Development Planning and Policy: Trade Policy; Factor Movement; Foreign Exchange Policy