UM
The 1997 Asian Currency Crisis, Financial Linkages, and the Monetary Policy of Japan
Chan, Kenneth S.1; Dang, Vinh Q.T.2
2012-02-01
Source PublicationReview of International Economics
ISSN0965-7576
Volume20Issue:1Pages:1-17
Abstract

The evidence is examined that excessively liberal monetary policy by the Bank of Japan, before and after the financial collapse of Japan in 1992, may have led other East Asian economies into "over-borrowing" and speculative investments, prior to the currency crisis in 1997-98. The authors test for cointegration and Granger causality between Japanese money supply M1 and the domestic investment of eight East Asian economies and Australia. US and German money supplies are also used as a benchmark. There is strong evidence that there are long- and short-run causal relationships between the Japanese money supply and the domestic investment of the Asian crisis-inflicted economies prior to 1997. 

DOIhttps://doi.org/10.1111/j.1467-9396.2011.01003.x
Indexed BySCI
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000299099500001
PublisherWILEY-BLACKWELL, COMMERCE PLACE, 350 MAIN ST, MALDEN 02148, MA USA
The Source to ArticleEngineering Village
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Document TypeJournal article
CollectionUniversity of Macau
Corresponding AuthorChan, Kenneth S.; Dang, Vinh Q.T.
Affiliation1.Department of Economics and Finance, City University of Hong Kong, Kowloon, Hong Kong and Lingnan College, Sun Yat‐Sen University, China
2.University of Macau, China
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Chan, Kenneth S.,Dang, Vinh Q.T.. The 1997 Asian Currency Crisis, Financial Linkages, and the Monetary Policy of Japan[J]. Review of International Economics,2012,20(1):1-17.
APA Chan, Kenneth S.,&Dang, Vinh Q.T..(2012).The 1997 Asian Currency Crisis, Financial Linkages, and the Monetary Policy of Japan.Review of International Economics,20(1),1-17.
MLA Chan, Kenneth S.,et al."The 1997 Asian Currency Crisis, Financial Linkages, and the Monetary Policy of Japan".Review of International Economics 20.1(2012):1-17.
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