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  • Print publication year: 2020
  • Online publication date: February 2020

8 - Economic Crises in Latin America and East Asia

Summary

Chapter 8 studies the record of macroeconomic and financial crises, high inflation episodes, currency collapses, political crises, and collapses of democracy in Latin America and the financial crises and recession episodes in East Asian economies in the period 1970–2015. The chapter focuses on countries – such as Argentina and Venezuela – with high incidence of growth, inflation, and political crises, and also examines the cases of Chile and Mexico. The chapter examines the effects of the East Asian crisis of 1997–98 on Korea, Indonesia, the Philippines, Thailand, and Malaysia (the Asia-5 countries) and compares its impact on China, Vietnam, Singapore, and Hong Kong. The chapter offers a discussion on a wide variety of crisis and stabilization occurrences in a comparative perspective, highlighting economic and political economy factors.

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