Economic Growth in East Asia since the 2008 Global Financial Crisis
Please read the following instruction very carefully, and you MUST remember that this is a "scholarly essay" that means the essay should rely exclusively on SCHOLARLY SOURCES. Purpose: This assignment enables you to build on the analytical and communication skills you have worked on in previous assignments as you investigate a topic currently under examination in your field of interest. In this formal research paper, you will perform a series of tasks, including establishing the history of a pertinent scholarly issue, summarizing the key points involved in this topic, using specialized diction, and offering your own perspective by synthesizing current research with your fresh findings. Methodology: This essay should rely exclusively on scholarly sources. Keeping in mind the audience for scholarly work, the emphasis should be on treating a specialized issue for a specialized audience rather than addressing a group of laypersons. Look for a methodology in the scholarly literature that you can implement in your research. Likewise, the tone of the work ought to be aimed at academics, eschewing sensationalism or generalizations. Avoid having bias or conclusions built into the question, although a hypothesis may be warranted as you begin your research. When the need arises to take issue with previous research findings—even when the topic stirs emotions--one¡¯s treatment of other scholars ought always to be collegial. Also, scholarly articles account for the history of the issue at hand, usually by citing previous key articles in footnotes so that fellow researchers can follow the trail of ideas themselves. While scholars needn¡¯t justify the importance of their topic to those uninterested in academic debate, good articles do emphasize the unique aspects of their own scholarship, articulating early in the piece precisely how this fresh evidence contributes to the field. Therefore be careful to foreground your perspective as the most prominent even as you rely heavily upon secondary sources; one accomplishes this largely by taking care to construct paragraphs around argumentative topic sentences featuring one¡¯s own analysis and bringing in other scholars to prove the point being made. Task: Develop an appropriate research question and In a thesis driven essay, research this issue and report your findings by positioning yourself within the critical dialogue. Select a particular journal and prepare your article with this venue in mind. Be sure to note the manner in which articles published in this journal handle particular topics and prepare your piece in a similar manner. Be sure to rely exclusively on scholarly sources (which may include interviews with researchers at USC or elsewhere). In order to reach minimum passing requirements, the finished draft should cite a minimum of "six journal articles and/or book chapters published by respectable academic presses." This paper must strictly adhere to MLA or APA or Chicago guidelines. Include with the final draft a submission letter to the journal you might send this article to, explaining briefly its relevance and asking for their consideration. This letter must be properly formatted as well. ----------------------------------------------------------------- I also include my research proposal as well. I hope this will help. Various studies have examined the causes and the effects of the global financial crisis in 2008, but most of them primarily focused on America and Europe. Only few focused on East Asian economies (Korea, Japan, and China). That is perhaps because the region is geographically the farthest from the United States, and the East Asian countries are still regarded as rather small and developing economies. However, East Asia has recovered the most quickly from the crisis since mid 2009, and, led by China, now it became the strongest and the healthiest economy in the world. My study, therefore, will examine how the East Asian countries overcame the global financial crisis so quickly and achieved such unbelievable economic growth in various ways since then. (This paper must include a variety of economic policies-fiscal and monetary policies-implemented by the countries` governments at that time and analyze their effects. Also, there must be comparisons and contrasts of those policies between the US and the East Asian countries during the crisis. Please include the overall mechanism of the high growth of those countries, and there should some data analysis as well such as graphs, tables, hypothesis testing, and etc. Finally, you can freely add any good evidence that fits the topic.) Thanks in advance. Please write a very good paper b/c this is really important to me. Considering the level of my school (the University of Southern California), my professor has a high expectation from me, so please keep that in mind as well, and work hard on this! THANK YOU SO MUCH!
Student NameProfessor NameCourse NumberDateEconomic Growth in East Asia since the 2008 Global Financial CrisisThe Global Financial crisis of 2008 was attributed to mortgage sector of USA and began in the USA following the bankruptcy and collapse of Lehman Brothers in 2008. It subsequently spread through all the economies of the World. The period was of dire economic and financial upheaval and made economic and financial environment very difficult for the World economy. In initial phase of the crisis the Asian Economy seemed not to be affected by the damaging economic and financial developments which was taking place around them (Dilip 7). Asian economies remained insulated in the global financial crisis for a period of time and there seemed to be a possibility that Asia would find easy passage through it. Since Asian economies are out-warding oriented and well connected with the global economy through trade and financial channels, they too found themselves getting affected by the crisis. Following this financial crisis and global recession East Asia experienced a sharp impact on its economy; there was unexpectedly swift and deep reduction of export and industrial production in the fourth quarter of 2008 and first quarter of 2009. East Asia took a vigorous economic rebound to counter the sharp impact of the financial crisis in its economy in the second quarter of 2009. The vigorous economic rebound initiated by East Asia has enabled it to recover most quickly from the crisis than most of the countries and now East Asia has become the strongest and healthiest economy in the world. The goal of this paper is therefore to examine how the East Asia countries overcome the global financial crisis so quickly and achieve and achieve such unbelievable economic growth in various ways since 2008.ECONOMIC POLICIES SUPPORTING RECOVERY IN EAST ASIAEast Asia implemented a number of economic policies to counter the effects of the 2008 Global Financial Crisis. The quick recovery from the financial crisis by the East Asia countries was as a result of a combination of timely and large fiscal and monetary stimulus notably in China and a powerful process of inventory restocking that began after mid 2009(Athukorola & Kohpaiboont 96). The East Asian economies prepared potent fiscal stimulus package and also attempted monetary easing to combat the recession generated collapse of the real economic activity. The objective was to provide support to the financial systems so that it did not disintegrate and stimulate aggregate demand in the domestic economy. East Asian economies were able to design strong stimulus responses because of their sound fiscal health and credible monetary state. East Asian economies also have the tradition of high saving rates and low household debts, they slashed interest rates in a convincing manner and adopted a large fiscal expansion programs. Some of the economic policies which were implemented by East Asia economies include;Fiscal policies Fisc...