Chapter

Decoupling of East Asia: Myth or Reality?

Yung Chul Park

in The Global Financial Crisis and Asia

Published in print October 2012 | ISBN: 9780199660957
Published online January 2013 | e-ISBN: 9780191748981 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199660957.003.0006
Decoupling of East Asia: Myth or Reality?

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Most of the studies on Asia's “decoupling” cover the period before the 2008 global financial crisis. In view of the faster recovery East Asia from the 2008 global economic crisis, it would be interesting to examine whether the crisis has changed the structure of trade linkages and financial spill overs between East Asia and the rest of the world to lend credence to the decoupling thesis. For this purpose, this chapter identifies some of the factors that are likely to cause the decoupling, analyzes East Asia's experience with the 2008 global crisis to examine whether the crisis has strengthened the case for the decoupling, and discusses the prospects for the decoupling in the future.

Keywords: East-Asian economies; causes of crisis; financial crisis; decoupling; trade linkages

Chapter.  5920 words.  Illustrated.

Subjects: Financial Markets

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