Abstract
With the spread of coronavirus, unprecedented supply and demand disruptions crippled the economy. To a large extent, it predicts the advent of financial crisis. Different from previous literatures which mainly focus on the negative impact of novel coronavirus on the word economy and specific industries, this paper researches on the problem under the context of pandemic what an emerging economy should do to undertake the world industrial transfer thus promoting domestic industrial upgrading and improving its position in global value chain. Dissecting the evolution process of the Southeast Asian financial crisis of 1997-98 and the American subprime crisis of 2008-09, this paper provides the introduction to a special issue concerning the relation between global financial crisis and industrial upgrading of emerging economy. Through historical analysis, summarizing experiences and lessons given by previous financial crises, this paper concludes with some revelations and puts forward recommendations for emerging economies. This research also gives the authorities from emerging economies a precise overview of the current emerging issues, therefore they can implement appropriate policies to respond timely to the current circumstances.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.