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dc.contributor.authorAdelman, I.en_US
dc.contributor.authorYeldan, E.en_US
dc.date.accessioned2015-07-28T11:56:58Z
dc.date.available2015-07-28T11:56:58Z
dc.date.issued2000en_US
dc.identifier.issn0305-750X
dc.identifier.urihttp://hdl.handle.net/11693/11145
dc.description.abstractThe globalization of world capitalism constrains the ability of the developmental state to pursue an independent industrialization and foreign trade strategy. We use an intertemporal, multiregion CGE model, to study the fundamental reasons for a financial crisis. We find that we can create a realistic crisis in the Asia region when capital markets are open and there is an unexpected rise in the risk premium of the Asia region. When capital markets are closed and the state retains all its policy instruments, the Asia region not only avoids a crisis but increases its rate of growth. (C) 2000 Published by Elsevier Science Ltd. All rights reserved.en_US
dc.language.isoEnglishen_US
dc.source.titleWorld Developmenten_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/S0305-750X(00)00014-0en_US
dc.subjectCapital marketen_US
dc.subjectFinancial crisisen_US
dc.subjectGeneral equilibrium analysisen_US
dc.subjectModelingen_US
dc.titleThe minimal conditions for a financial crisis: a multiregional intertemporal CGE model of the Asian crisisen_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.departmentDepartment of International Relationsen_US
dc.citation.spage1087en_US
dc.citation.epage1100en_US
dc.citation.volumeNumber28en_US
dc.citation.issueNumber6en_US
dc.identifier.doi10.1016/S0305-750X(00)00014-0en_US
dc.publisherPergamon Pressen_US
dc.identifier.eissn1873-5991


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