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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Impact of the Asian Economic Crisis on Southern African Economies
Authors:Siriwardana, Mahinda
Dollery, Brian
Periodical:African Development Review
Geographic terms:Southern Africa
Subsaharan Africa
South Africa
Subjects:business cycles
economic recession
international trade
Economics and Trade
international relations
External link:https://onlinelibrary.wiley.com/doi/10.1111/1467-8268.00055/pdf
Abstract:The Southeast Asian economic 'crisis' originated in Thailand in mid-1997. A second phase of the Asian 'contagion' began in Hong Kong in September 1997. Although southern African economies appear to have escaped the initial phase of the East Asian crisis relatively unscathed, the second stage was somewhat less benevolent. The present authors investigate the impact of the Asian crisis on the economies of southern Africa within a general equilibrium framework through the use of the Global Trade Analysis Project model (T.W. Hertel, 1996). Compared with the six most severely affected East Asian economies, the economies of South Africa, the rest of southern Africa, and sub-Saharan Africa fared comparatively well, not least because they are small economies with relatively weak links with the East Asian countries in question. The South African economy in particular appears to have weathered the Asian storm rather well, partly as a result of the pattern of South Africa's international trade, but also thanks to South African policymakers. App., bibliogr., notes, ref., sum. in English and French. [ASC Leiden abstract]