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Trade & Payments
The Main Lesson from the Asian Crisis: ''Dragons'' Should Not Fundamentally Change Their Policies
Kunibert Raffer

This paper argues that liberating themselves from the dictates of the international financial institutions seems to be the optimal policy response for the Asian economies, because the ''reforms'' demanded by IFIs not only left untreated the problem triggering the Asian crisis of the nineties, but instead tried to enforce an unfeasible set of neoliberal policies. In addition, the IFIs actually took economic advantage of the crisis.
 

February 04, 2008.

 
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  © International Development
Economics Associates 2008
 

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