Asian Currency Crises: What Has Happened?

Asian Currency Crises: What Has Happened?

- Speaker: Anne O. Krueger, Professor, Stanford University

- Date: June 23, 1998

"Past successes have led to policies more conducive to higher standards of living. Those higher real incomes, however, make the economy more vulnerable to policy mistakes because of its increased openness and complexity. The rewards for opening have been realized in rapid economic growth and high living standards. The penalties for weak policies have been paid for in the crisis...”