External shocks and structural adjustments in East Asian newly industrializing economies

In: Journal of international development, Band 5, Heft 1, S. 51-77

Abstract

By using a framework developed by Salter and Corden, this paper examines the nature of the East Asian NIEs adjustment experience. The East Asian NIEs responded to external shocks with a policy package which included downward adjustments in exchange rates and reductions in absorption, especially public consumption. (DSE)