Drought, the Asian crisis and Fiji's monetary policy response

Research output: Contribution to journalArticle

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Abstract

The effects of the El Niño-driven drought and the Asian crisis on Fiji are investigated showing Fiji as highly vulnerable to natural disasters. While domestic factors were largely responsible for Fiji's 1997 recession, the lagged effects of 1997's economic weakness and the drought were largely responsible for the 1998 recession. The devaluation of the currency in January 1998 was the major monetary policy response to the weakening domestic economy and the Asian crisis. Fiji's early interventions in terms of policy adjustments helped cushion the economy from the worst effects of the drought and the Asian crisis.

Original languageEnglish
Pages (from-to)110-122
Number of pages13
JournalPacific Economic Bulletin
Volume14
Issue number2
Publication statusPublished - 1999

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monetary policy
Drought
Melanesia
drought
recession
currency
natural disaster
Disasters
economy
devaluation
Economics
economics
effect

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Development
  • Aerospace Engineering

Cite this

Drought, the Asian crisis and Fiji's monetary policy response. / Gani, Azmat.

In: Pacific Economic Bulletin, Vol. 14, No. 2, 1999, p. 110-122.

Research output: Contribution to journalArticle

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