Asian Corporate Recovery

The main findings of surveys of 3,700 manufacturing firms in Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand. The papers, presented at a conference in Bangkok in early 1999, compare the effect of the 1997-99 crisis on various countries, sectors, and types of firms, in terms of output, exports, and employment. They analyse the causes of corporate decline and assess the policy options to foster corporate recovery. The impact of the financial sector crisis on the corporate sector is discussed through an analysis of corporates' financial structure and credit needs. The extent of foreign corporate indebtedness is reviewed as well as the role debt played in the crisis. Each of the five survey countries prepared a report and these are included.

This rich new database on 4,000 Asian firms, operating in Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand, focuses on the impact of Asia's economic crisis and on the longer-run determinants of productivity, employment practices, and financial structure.

This book provides an in-depth analysis of 4 economically significant Asian jurisdictions: Mainland China, India, Hong Kong and Singapore. These jurisdictions have recently either reformed – or are considering reforming – their corporate restructuring laws to promote regimes conducive to restructuring financially distressed, but otherwise economically viable, companies. Mainland China, India, Hong Kong and Singapore continue to adhere to a framework that requires the court's final approval but draw references from Chapter 11 of the Bankruptcy Code 1978 in the United States and/or the schemes of arrangement in the United Kingdom. However, the institutional and market structures are very different in Asia; in particular, Asia has a far higher concentration in shareholdings among listed firms, including holdings by families and the state, and a different composition of creditors. The book explains how, notwithstanding the legal transplantation, corporate restructuring laws in these Asian jurisdictions have adapted and evolved due to the frictions in shareholder-creditor and creditor-creditor relationships, and the role of the state in resolving non-performing loans and financial distress of state-owned enterprises which are listed, or which issue public debt. The study argues that any reforms must go beyond professionalising the insolvency professionals and the judiciary but must be designed to address fundamental issues of corporate governance, bank regulation and enforcing non-bankruptcy rules. It offers invaluable insights for academics and policy makers alike.

A theoretical framework aiming to facilitate study of development economics. The author presents his theory in three sections: how advanced nations developed; a proposed third dimension, in addition to labour and capital; and why capital accumulation is unnecessary, even potentially harmful.

The Rise, the Fall, and the Recovery of Southeast Asia's Minidragons offers a comprehensive study of recent Asian economic history. As the global economy adjusts to an increasing Asian presence, David Hollingsworth examines specific case models from the 1990s to draw conclusions, create paradigms, and prepare guidelines for the future. With studies ranging from Taiwan to Malaysia and an in-depth analysis of the Asian Financial Crisis of 1997-1998, this is one of the most in-depth studies of contemporary Asian economic history. With clear focus and a wide range, Hollingsworth shows the relevance of recent history to the current economic situations. Contract principle is essentially the driving force that propelled East Asia to engage in a series of policies that were responsible for its economic growth and sustainability since the late 1950s. The book discusses such growth and examines the economic history of this period. It examines the move from Import-Substitution-Industrialization to Export-Orientation and the forces leading to the subsequent Asian Financial Crisis of 1997-1998. The book applies a structural investigation to case studies of: Taiwan, Singapore, Thailand, Indonesia, and Malaysia. It concludes by shaping the historical lessons into a vision for the future.

This book looks at globalisation in historical perspective and *examines the experience of East Asian economies during the financial crisis *provides an account of globalisation through the activities of Japanese multinational enterprises *deals with the social consequences of exposure to the financial market risks of globalisation in East Asia *details the experience of East Asian economies in managing the financial crisis *draws lessons from East Asian experience with financial market liberalisation *asks what approaches to international financial cooperation, trade policy and corporate governance can assist East Asian interests in the world economy.

This publication is a compilation of reports on research projects initiated, under way, or completed in fiscal year 2001 (July 1, 2000 through June 30, 2001). The abstracts cover 150 research projects from the World Bank and grouped under 11 major headings including poverty and social development, health and population, education, labor and employment, environment, infrastructure and urban development, and agriculture and rural development. The abstracts detail the questions addressed, the analytical methods used, the findings to date and their policy implications. Each abstract identifies the expected completion date of each project, the research team, and reports or publications produced.

This book analyzes the impact of the global financial crisis and the Great Recession on the Asian economy. Dilip K. Das delves into the most significant and germane issues related to the Asian economy during the crisis, how it coped with them and how it eventually emerged from them.