TY - JOUR
T1 - The Asian financial crisis and global adjustments
T2 - Implications for US agriculture
AU - McKibbin, Warwick J.
AU - Wang, Zhi
AU - Coyle, William
PY - 2001
Y1 - 2001
N2 - This study investigates the impact of the recent Asian financial crisis on global economic adjustment and its implication for US agriculture using a multi-country, multi-sector dynamic intertemporal general equilibrium model with endogenously modelled financial markets. The simulation results show that the crisis in Asia reduces not only US exports but also interest rates and the cost of intermediate inputs of production, stimulating US domestic economic activity in interest-sensitive sectors, and driving up demand for agriculture products. However, this stimulus of domestic demand may or may not offset the negative impact of declining exports.
AB - This study investigates the impact of the recent Asian financial crisis on global economic adjustment and its implication for US agriculture using a multi-country, multi-sector dynamic intertemporal general equilibrium model with endogenously modelled financial markets. The simulation results show that the crisis in Asia reduces not only US exports but also interest rates and the cost of intermediate inputs of production, stimulating US domestic economic activity in interest-sensitive sectors, and driving up demand for agriculture products. However, this stimulus of domestic demand may or may not offset the negative impact of declining exports.
UR - http://www.scopus.com/inward/record.url?scp=0035652839&partnerID=8YFLogxK
U2 - 10.1111/1468-5876.00207
DO - 10.1111/1468-5876.00207
M3 - Article
SN - 1352-4739
VL - 52
SP - 471
EP - 490
JO - Japanese Economic Review
JF - Japanese Economic Review
IS - 4
ER -