Research Notes: Revisiting the Asian Financial Crisis, Critical Review of the Economic Premises Entitled: The End of the Asian Myth: Why were the experts fooled?

Abstract

This study investigates the nature, functions and organizational transformations of network organizations with the case of the radical, unprecedented and innovative Australian National Introduction and Methodology his study is primarily a critique of the article entitled: "The End of the Asian Myth: Why were the Experts Fooled?" written by Werner Baer, William Miles and Allen Morgan for the journal World Development Volume 27, Number 10 edition which was issued in 1999. The critique will use standard econometric analyses to test the validity of the economic premises of the article and also test hypotheses that are derived from the premises of the article. The study sought to revisit and test some of the fundamental economic premises presented by the article mentioned above. This would be accomplished by undertaking cross-national econometric analyses of East Asian as well as Latin American countries. Specifically, the study addresses three core questions: 1.1.1 Using the premises of the article being critiqued, is it possible to create a model that approximates the neo-classical representation of national economies? 1.1.2 Holding everything constant, and once again using the premises of the article being critiqued, is there a significant difference between the economies of East Asia and Latin America? 1.1.3 What valuable lessons can be learned from the apparent misdiagnosis of the Asian Financial Crisis?