Crisis asiática e importación de capital: implicaciones para la globalización de la economía mundial.

Abstract

Although the inmediate causes for the Asian financial crisis are mainly due to the owu performance of the affected countries, however there are also sorne external factors, such as te big inestability of the international financial markets and the wrong economic policy recommended by te International Monetary Fund, which contributed to become the crisis more acute. Recently, inside as well as outside the academic scope it is necessary a more global and deeper explanation for the crisis. According to this, in the background the crisis 203 Alfredo Pérez Sánchez Crisis asiática e importación de capital: implicaciones... is due lo the downfall of the development strategy leaning on the impon of foreign capital. Such a conception overlooks aspects so decisive as the increasing accumulation of foreign debt, affecting in its turn to the exchange rate and the price level of the debting countnies. Additionally we consider that the Asian crisis can suppose a hard knock to the process fon the economy globalization, as well as an inflexion poiní or at lastan attention one to such process. Finally, on occasion of the crisis we wonder which has been the FMI role and which will be its future.