Study Of Financial Crises And Stability Across Selected Asian Countries

  • Dr. Anurag Agnihotri

Abstract

            The IMF highlighted risks of a new financial crisis, cautioning that global output could be cut by 3.9% over the next five years by a repeat of the market turmoil witnessed during the 2008-09 recession. The emergence of new shocks such as U. S. monetary policy tightening; adoption of negatives interest rate policies by European central banks, Bank of Japan, and the sharp drop in oil and other commodity prices have highlighted the vulnerability of economies across the globe to volatile capital flows and trade related shocks. The East Asian financial crisis in 1997 and the global financial crisis in 2008 compelled the world community to devise the ways to avert or at least mitigate the impact of such financial crises in future. The efforts in this direction have been made by improving the macro-prudential policy underpinning the supervisory and regulatory framework for financial markets both at individual economy level and multilateral institutions level. This paper discusses the financial crisis of 1997 in the East Asia and the global financial crisis of 2008 in context of the causes responsible and the lessons learnt.  The paper then take a look on supervisory and regulatory framework adopted in Asia keeping in view the two financial crises. The improvement in the financial stability in the Asian region is assessed of the basis of certain stability measures. The paper finally assesses the vulnerability to such crises in future in Asian region.

Published
2020-05-15
How to Cite
Dr. Anurag Agnihotri. (2020). Study Of Financial Crises And Stability Across Selected Asian Countries . International Journal of Advanced Science and Technology, 29(10s), 6136 - 6145. Retrieved from http://sersc.org/journals/index.php/IJAST/article/view/23055
Section
Articles