The Impact of the Asian Financial Crisis: A Perspective from Productivity Analysis

The Asian fmancial crisis that was initiated in Thailand in 1997 has attracted much literature, which provides different views towards its causes, impacts and mechanisms in the rapidly growing Asian economies. Perhaps due to the nature of the crisis, most analyses mainly focus upon the monetary and fmancial aspects of the issue. This analysis, however, turns emphasis to productivity analysis, an unpopular theme for the fmancial crisis.