1980s s 66 Incidence of Banking Crises
Banking Crises Since 1974
Costs of Banking Crises
China and India Rode the Crisis
GDP Loss during Crises
Stock Market During Crises Stock Market During Crises
Growth in Developing Countries
Slowdown in World Growth
East Asian Exchange Rates $US/Foreign Currency
GDP Growth in Crisis Countries*
Real Wages during Crises
Crisis Unemployment Rates
Causes and Blame (…enough to go around…) Mahatir - Speculative Hedge Funds Suharto - Misguided Policy Interventions and exaggerated claims of government malfeasance Others - Crony capitalism, lack of transparency, faulty banking systems, inadequate regulatory environment Element of Truth in All of The Above
Impact is Felt in Four Major Areas Fall in the Demand for Labour Decrease in Real Wages Reduction in Public Spending Because of Revenue Falls Social and Political Upheaval