Asian Financial crises
Chapter

Chapter 12 The Yen and Boom–Bust Cycle in East Asia

Author(s):
International Monetary Fund
Published Date:
January 2001
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    Abstract

    One of the key determinants of the boom–bust cycle in East Asia was the sharp appreciation of the yen against the dollar between the mid-1980s and the mid-1990s, and its subsequent depreciation. Real investment and speculative financial capital in and into East Asia responded too much to the yen movements.

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