000			00930pab a2200157 454500
008			180718b1999 xxu||||| |||| 00| 0 eng d
100			_aSen, Sunanda
245			_aEconomic turmoil in Asia: a reinterpretation
260			_c1999
300			_ap.2071-080
362			_a24 Jul
520			_aMost analyses of the recent south-east Asian crisis focus on non-performing fundamentals or on self-fulfilling panics in the financial sector. This article traces the crisis to real sector deceleration, which was apparent a year before the crisis; and to the built-in instabilities in the deregulated financial system. As credit flows continued in spite of real sector slow-down, the system became vulnerable to sudden collapse in asset prices. Corrective measures by monetary authorities failed in deregulated financial markets. - Reproduced
650			_aEconomic recession
773			_aEconomic and Political Weekly
909			_a41804
999			_c41804 _d41804