Japan, China, South Korea, and India

When the subprime-induced financial crisis broke out in the U.S. housing sector in the summer of 2007 and mushroomed into a global financial crisis by September 2008, it was widely believed that the Asian economies, especially the “big four”—Japan, China, South Korea, and India—would remain largely immune from the worst of the crisis. However, this assumption has proven to be false. All four countries have felt the negative impact of the financial contagion—albeit differently. Whereas China and India have been moderately impacted, Japan and South Korea have experienced heightened financial instability, sharp economic contraction, and a deep recession. What explains the big four's vulnerability to the crisis, and why have Japan and South Korea been affected more negatively than China and India? How have the four countries responded to the crisis, and what can they do to further insulate their economies from the vagaries of the global financial markets? In this article, the author addresses these interrelated issues

Business · China · Development economics · Economics · Financial crisis · Financial system · Global recession · Political science · Recession · Subprime mortgage crisis · Vulnerability (computing · Banking stability, regulation, efficiency · Economic Theory and Policy · Global Financial Crisis and Policies

• Financial Crisis Fatigue? Politics behind Japan's Post-Global Financial Crisis Economic Contraction

  Open Access•Saori N Katada•Japanese Journal of Political…•2013

  Add to list

• Japan's Financial Crisis and Economic Stagnation

  Open Access•Takeo Hoshi, Anil Kashyap et al.•The Journal of Economic…•2004

  Add to list