The East Asian Crisis in Kindleberger-Minsky’s Framework

Vol. 21 No. 2 (2001)

Apr-Jun / 2001
Published April 1, 2001
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How to Cite

Saqib, Omar F. 2001. “The East Asian Crisis in Kindleberger-Minsky’s Framework”. Brazilian Journal of Political Economy 21 (2):277-85. https://doi.org/10.1590/0101-31572001-1462.
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The East Asian Crisis in Kindleberger-Minsky’s Framework

Omar F. Saqib
Department of Economics, University of Joensuu, Finland.
Brazilian Journal of Political Economy, Vol. 21 No. 2 (2001), Apr-Jun / 2001, Pages 277-285

Abstract

The paper reviews the 1997 East Asian crisis within the framework of the five stages of displacement, boom, overtrading, revulsion, and tranquility of the Kindleberger-Minsky model. It further notes that the recent interpretations of the crisis, based on the hypotheses of fundamental imbalances and financial panic, conform to the stages of the Kindleberger-Minsky model.

JEL Classification: F31; F32.


Keywords: Kindleberger-Minsky model 1997 Asian currency crisis financial contagion