IJSSH 2015 Vol.5(7): 596-603 ISSN: 2010-3646
DOI: 10.7763/IJSSH.2015.V5.524

Monetary Response of China, South Korea, and Singapore to the Global Financial Crisis: Comparative Analysis

R. Latfullina
Abstract—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.

Index Terms—East Asian economies, global financial crisis, monetary policy.

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: regina_ruspb@mail.ru ).

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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.

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