Recessions and Recoveries in Asia: What Can the Past Teach Us about the Present

Gupta, Souvik; Miniane, Jacques

doi:10.1093/acprof:oso/9780199660957.003.0004

Cited by 5 publications

(4 citation statements)

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“…Yet, while the region itself did not suffer from a prior synchronized shock, individual economies had their own individual experiences with prior recessions in the 1980s and 1990s, some more recent than others. Hong Kong suffered a recession in 1995, Indonesia in 1992, the Philippines in 1991, Malaysia and Singapore in 1985, South Korea in 1980, and Thailand in 1979 (Cardarelli, Elekdag, and Lall, ; Gupta and Miniane, ; Laeven and Valencia, ; Reinhart and Rogoff, ). In addition, compared to the Asian economies, capital inflows and economic growth rates were lower in the United States and more volatile in the Latin American countries.…”

Section: Discussionmentioning

confidence: 99%

Organizational adaptation in an economic shock: The role of growth reconfiguration

Chakrabarti

2014

Strategic Management Journal

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Studies suggest that firms navigating an economic shock can adapt and improve performance by targeting perceived growth opportunities. A puzzle, however, is that an economic shock increases environmental uncertainty and therefore the risk associated with growth reconfiguration. This study finds that growth reduced performance and increased the risk of firm failure during the Asian economic shock of 1997. Growing firms differed in the extent to which they were able to mitigate the constraints imposed by the shock. However, the presence of developed external institutions played a more systematic role in their adaptation than did organizational resources represented by financial slack or product diversification. The deliberate attempt to reconfigure augmented the adverse effect of the economic shock on firm performance and survival.

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Section: Discussionmentioning

confidence: 99%

Organizational adaptation in an economic shock: The role of growth reconfiguration

Chakrabarti

2014

Strategic Management Journal

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“…Building on earlier work in the context of advanced economies (Claessens, Kose, and Terrones, 3. Calderón and Fuentes (2006) consider a sample of 14 emerging market economies over 1980. Gupta and Miniane (2009 analyze recessions and recoveries using quarterly data on eight emerging countries for the 1980period.…”

Section: International Monetary Fundmentioning

confidence: 99%

Recessions and Financial Disruptions in Emerging Markets: A Bird's Eye View

Claessens

Köse²,

Terrones

2010

SSRN Journal

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“…This means that tail risks of emerging Asian markets are not highly sensitive to extremely negative shocks from the US market in the short term (2-4 and 4-8 days scales). This finding can be linked to the increasing resilience of emerging Asian markets, which has been demonstrated in many studies such as Gupta and Miniane [30] and Kenç et al [34]. It may also be one of the implications of the capital control policies imposed by these countries on foreign capital.…”

Section: Discussionmentioning

confidence: 78%

The comovements of tail risks in time and frequency domains: evidence from US and emerging Asian stock markets

Baba

2024

Futur Bus J

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The study applies the wavelet local multiple correlations to investigate the level of comovements among the tail risks of US and emerging Asian stock markets in both time and frequency domains. Through this empirical investigation, we address the question of how the transmission of tail risk across the concerned stock markets is changing over specific timescales, varying from short term to long term. Empirical results from the multivariate time–frequency correlations show that the comovements of tail risks are distinctively higher during periods of economic and political turmoil in the short term. The multivariate long-term comovements are highly stable and extremely strong which can be taken as evidence of long-term integration. In contrast, the bivariate time–frequency correlations are remarkably weaker in the short term not only during periods of crises but over most of the sample period. The results of the bivariate analysis also highlight the instability of the long-term pairwise correlations of the tail risks, showing that it is susceptible to sudden changes, which indicates that the tail risks of the US and emerging Asian stock markets are actually not completely integrated in the long term. This finding also implies that the tail risks of US and emerging Asian stock markets are nonlinearly connected in the long term.

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Recessions and Recoveries in Asia: What Can the Past Teach Us about the Present

Cited by 5 publications

References 0 publications

Organizational adaptation in an economic shock: The role of growth reconfiguration

Organizational adaptation in an economic shock: The role of growth reconfiguration

Recessions and Financial Disruptions in Emerging Markets: A Bird's Eye View

The comovements of tail risks in time and frequency domains: evidence from US and emerging Asian stock markets

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