Authoritative, original essays focus on how the seven East Asian economies labeled "miracle economies" just five years ago by the World Bank got into the deep crisis which emerged in 1998. Why didn't economists foresee the sudden and catastrophic events of 1997-98? The contributors, fifteen specialists from eight countries, examine the origins, lessons and future path of the crisis and attempt to determine if there is anything to salvage of the "East Asian Miracle."

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