The Global Financial Crisis: Impact on Asia and Policy Challenges Ahead Heng Swee Keat Asian crisis (in 1998: Q4). The improvement was across the board in all expendi year, 11 in stark contrast to the contractionary fiscal policies during the Asian crisis. Monetary policy responses were swift, with many Asian central banks
Singapore has weathered the Asian financial crisis better than most Asian economies. This paper examines the roots of Singapores resilience and assesses Singapores policy responses to the crisis. It argues that Singapore has used the exchange rate and wage instruments effectively during the crisis.
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Find out more about Singapores monetary policy and economic developmentsRead more. Singapore Financial Centre. Overview; Date: 30 Sep 1998. The Asian crisis has shown that economies need welldiversified funding mechanisms. We plan to develop our debt market, further liberalise and expand the offerings in the equity market, and
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