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ECON 332 Midterm 1 > Midterm 1 > Flashcards

Midterm 1 Flashcards

1
Q

What is the capital of Indonesia?

A

Jakarta

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2
Q

What is the currency of Indonesia?

A

Rupiah

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3
Q

What is the capital of Malaysia?

A

Kuala Lumpur

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4
Q

What is the currency of Malaysia

A

Ringgit

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5
Q

What are the four tigers?

A

Hong Kong, Taiwan, South Korea, Singapore

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6
Q

What are the Asean-4 countries?

A

Malaysia, Thailand, Indonesia, Philippines

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7
Q

Which economy has fixed exchange rate?

A

Hong Kong

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8
Q

Which country has experienced devising hyperinflation over the past 60 years?

A

Indonesia due to political instability, economic mismanagement, economic isolation

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9
Q

What is the two corner solution?

A

Countries choosing either a fixed exchange rate or a fully flexible exchange rate but never both

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10
Q

What are the 6 strategies of development?

A
  1. Monetarist
  2. Open Economy
  3. Industrialization
  4. Green Revolution
  5. Redistribution
  6. Socialist
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11
Q

What does the Gini coefficient measure?

A

greater income inequality in a nation

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12
Q

What is the belt and road initiative (BRI)?

A

China’s infrastructure and investment project. aimed at building trade routes across Asia, Africa, Europe

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13
Q

What are the main motivations behind China’s BRI?

A

Enhancing trade, promoting regional connectivity, increasing China’s geopolitical influence

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14
Q

What are the three views on China’s BRI?

A
  1. Optimistic: It will help global development and create shared prosperity.
  2. Strategic: It is China’s way to gain influence and challenge U.S. global dominance.
  3. Skeptical: BRI may be economically unsustainable due to heavy debt burdens on participating countries.
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15
Q

What are the eight High-Performing Asian Economies (HPAEs)?

A

Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia

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16
Q

What are the long-term issues for the future development of Northeast Asia?

A

Aging populations, structural reforms, regional integration, maintaining economic growth despite demographic changes

17
Q

What are the key features of the Asian Development Model?

A

High savings rates, export promotion, human capital development, government intervention in industrial policies.

18
Q

What are the three regimes in the Impossible Trinity?

A

Fixed exchange rate, free capital movement, independent monetary policy

19
Q

Which country/economy had the highest corporate ownership concentration before the Asian Financial Crisis?

A

Indonesia

20
Q

Which country/economy is ranked as the most attractive FDI destination in the world?

A

China

21
Q

Which country/economy had the highest ratio of short-term foreign debt to reserves right before the Asian Financial Crisis?

A

Thailand

22
Q

Which country/economy had the highest corporate leverage (debt-equity ratios) before the Asian Financial Crisis?

A

South Korea

23
Q

Which country/economy has the highest saving rates?

A

China

24
Q

What were the six key components of the IMF rescue packages that exacerbated the crisis?

A

1.Fiscal austerity
2.interest rate hikes
3. currency devaluation
4. structural reforms
5.privatization
6.deregulation

25
Q

Which countries received IMF bailouts during the Asian Financial Crisis?

A

Thailand, Indonesia, South Korea

26
Q

What were the “Sick-5” countries most affected by the Asian Financial Crisis?

A

Thailand, Indonesia, South Korea, Malaysia, Philippines

27
Q

What were the five main causes of the Asian Financial Crisis?

A

1.Over-leveraging
2.short-term foreign debt
3.fixed exchange rates
4.weak corporate governance
5. speculative attacks on currencies.

28
Q

How did the “Sick-5” resolve the Impossible Trinity problem after the crisis?

A

They adopted flexible exchange rates and liberalized capital markets.

29
Q

Which countries/economies were least affected by the Asian Financial Crisis?

A

Taiwan and Singapore

30
Q

When and where did the Asian Financial Crisis officially start?

A

July 1997 in Thailand

31
Q

What is the double mismatch problem?

A

Currency mismatch: Borrowing in foreign currencies Maturity mismatch: using short-term loans for long-term projects

ECON 332 Midterm 1 (1 decks)

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