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The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. [1]
Asian financial crisis, major global financial crisis that destabilized the Asian economy and then the world economy at the end of the 1990s. The 1997–98 Asian financial crisis began in Thailand and then quickly spread to neighbouring economies.
What Was the Asian Financial Crisis? The Asian financial crisis, also called the “Asian Contagion,” was a sequence of currency devaluations and other events that began in July 1997 and spread...
Asian Financial Crisis. July 1997–December 1998. A financial crisis started in Thailand in July 1997 and spread across East Asia, wreaking havoc on economies in the region and leading to spillover effects in Latin America and Eastern Europe in 1998.
What is the Asian Financial Crisis? The Asian Financial Crisis is a crisis caused by the collapse of the currency exchange rate and hot money bubble. It started in Thailand in July 1997 and swept over East and Southeast Asia.
This paper tells the story of the Asian financial crisis by addressing four questions: What were the causes of the crisis, how did the crisis unfold, what were the policy responses, and what have been the outcomes?
But 20 years ago, July 1997 marked the beginning of the Asian Financial Crisis, when a combination of economic, financial and corporate problems triggered a sharp loss of confidence and capital outflows from the region’s emerging market economies.
This paper takes a thorough look at the 1997-1998 Asian financial crisis, examining its major causes, the way the affected countries recovered, and their paths going forward.
In June 1997, a financial crisis emerged that swept across most of the tiger economies of Southeast Asia and major players in East Asia; it even had significant repercussions across the globe in the United States.
A financial crisis every twenty-four months – beginning in 1992–93 with the speculative attacks against several currencies in the Exchange Rate Mechanism (ERM) of the European Monetary System, followed by the sudden collapse of the Mexican peso in December 1994, and more recently, the Asian financial crisis that was set off when the Bank of Thai...