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the result of short-term, mainly external, adverse factors? There is some support for this being a factor. There was a global slowdown in world trade in 1996, with the growth rate of world manufactured exports
dropping from 8.6% p.a. during 1990-95, to 2.1% in 1996 6 . All countries in Asia were hit, with Korea and Thailand the worst affected...
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during 1990-95, to 2.1% in 1996 6 . All countries in Asia were hit, with Korea and Thailand the worst affected. If the basic problem of export performance could be seen as cyclical, then in terms of the main focus of this paper, the management of the economic crisis perhaps can indeed focus on the financial sector...
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Macro Signals Declining Effici
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