—The global financial and economic crisis
approached East Asia in autumn 2008, causing a substantial
slowdown of regional economies. To overcome the negative
consequences and mitigate the recession, local governments
promptly responded to the crisis with monetary measures and
fiscal stimuli. The current paper provides a comparative
analysis of monetary policy frameworks of selected East Asian
countries, i.e. China, South Korea, and Singapore, and
examines their monetary response to the global crisis. The
results show that despite relatively diverse approaches to
monetary policy, all of the economies due to implemented
macroeconomic measures have managed to effectively recover
from the economic breakdown.
—East Asian economies, global financial crisis,
R. Latfullina is with the School of Business and Economics, Friedrich
Alexander University of Erlangen-Nuremberg, Nuremberg, 90403
Germany, and with the Faculty of Business Administration, Nuremberg
Institute of Technology Georg Simon Ohm, Nuremberg, 90402 Germany
(email: email@example.com ).
Cite: R. Latfullina, " Monetary Response of China, South Korea, and
Singapore to the Global Financial Crisis: Comparative
Analysis," International Journal of Social Science and Humanity vol. 5, no. 7, pp. 596-603, 2015.