The Asian Financial Crisis: Ten Years On
HONG KONG, November 1, 2007 - This panel discussion on the Asian Financial Crisis featured Stephen Schwartz, Michael Spencer, Jim Walker, and was moderated by Mark Clifford. A decade after the Asian Financial Crisis, the region seems to have largely recovered and economic growth is as strong as ever. But what lessons have been learned from the past and is the region prepared for another financial shock? Have reforms instituted after the crisis been far reaching enough and what changes still need to be made? How can Asian countries lessen their dependence on export led growth and their vulnerability to slowdowns in other regions?
Stephen Schwartz is the Senior Resident Representative of the IMF in Indonesia
Michael joined Deutsche Bank in Hong Kong as senior economist in December 1997. Prior to this, he worked at the International Monetary Fund since 1990, for the last six years in the International Capital Markets division, which pioneered the IMF's surveillance of capital markets and financial system soundness in all its member countries. Michael was made Chief Economist, Asia in 2000 and Head of Global Markets Research in the Asia Pacific region in 2003. He has been ranked Asia's top economist by The Asset magazine in each of the past two years and regularly rates among the top three in other publications' surveys. He has published numerous articles on different aspects of financial economics in both academic and policy fora.
Jim Walker is the chief economist of CSLA Asia-Pacific Markets.