99/14 11 FEBRUARY 1999 The Asian Economic Crisis This paper considers the economic crisis that began in the financial markets of South East Asia in 1997 and the consequences for the economies of the region and the rest of the world. The paper provides a chronology of and explores the factors that led to the crisis. An overview is given of the policy measures that the international financial institutions (IFIs), such as the IMF, have taken to deal with the crisis. Some of the arguments and policy
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Impact of the Asian Financial Crisis in 1997 and effect to Latin America Name: Institution: Date: Abstract In 1997, the Asian Financial Crisis spread rapidly all over the Asia and affected almost all the economies in the world. Prior to the Asian Financial Crisis, the Asian countries such as Thailand, Malaysia, South Korea, Indonesia, Hong Kong and Singapore experienced a remarkable growth in the economy that was considered the highest in the world. These Asian economies increased by a notable
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Thailand’s Financial/Currency Crisis One of the biggest financial crisis’ the world has ever seen was the Asian Financial Crisis of 1997. This financial crisis affected most of East Asia and raised fears of a potential worldwide economic meltdown. The Asian financial crisis called for urgent actions to be taken in order to help the countries that have been affected by the crisis. Thailand was the first country affected by the Asian financial crisis, which is why we chose to do our research on Thailand
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Implications of the Asian Financial Crisis. The Asian Financial Crisis also called the "Asian Contagion". This was a series of currency devaluations and other events that spread through many Asian markets beginning in the summer of 1997. The currency markets first failed in Thailand as the result of the government's decision to no longer peg the local currency to the U.S. dollar. Currency declines spread rapidly throughout South Asia, in turn causing stock market declines, reduced import revenues
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Overview of The Asian Financial Crisis Prepared for Mahrufa Bashar Assistant Professor Course Instructor: International Finance Prepared by S.M. Ishtiuaque (ZR 30) Md. Sakib Khaled (ZR 55) Md. Mahmudur Rahman (ZR 82) Mazharul Islam Bin Towhid (ZR 89) Debojit Saha (ZR 110) BBA 18th batch Institute of Business Administration, University of Dhaka October 02, 2013 Contents 1. Introduction 2 2. Background of the Asian Financial Crisis 2 3. Development of the Crisis 3 4. Reasons
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ASIAN FINANCIAL CRISIS Reading this article brings me back to the unpleasant memories which occurred 15 years ago in the month of July. That time Peso suddenly depreciated by more than 10 percent in a single day and the depreciation further continued in the days to come. Panic suddenly gripped the financial sector and days later the panic spread like a domino effect into other sectors such as the property sector and import sector. The last time the peso depreciated by double- digit percentage
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Ravenhill, “Cause and Consequences of the Asian Financial Crisis,” in Gregory W. Noble and John Ravenhill, eds., The Asian Financial Crisis and the Architecture of Global Finance, ed., Cambridge, 2000, pp. 1-35 [pic] Summary: The Asian financial crisis resulted from the sudden flight of large amounts of capital from Asian countries that lacked adequate systems of prudential regulation, and whose foreign exchange rate proved disastrously brittle. The crisis was unique in its unprecedented severity
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Executive Summary This paper analyses the factors which led to the economic crisis which faced Indonesia in 1997, which in turn led to Indonesia making major reforms in government as well as in every other sector. It also looks at the major factors that also have to be improved even though major reforms have swept the nation. The policy of decentralisation, although done for the better, has its drawbacks which can hurt Indonesia in the long run. Contents - Executive Summary
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From the Asian Miracle to an Asian Century? Economic Transformation in the 2000s and prospects for the 2010s: Review Essay The chosen article, “From the Asian Miracle to an Asian Century? Economic Transformation in the 2000’s and prospects for the 2010s” by Dr. Yiping Huang and Bijun Wang was published by the Reserve Bank of Australia (RBA) as part of proceedings of their annual conference “The Australian Economy in the 2000s” held by Bank's Economic Group. 1.Introduction The article examines
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profitable microfinance institutions in the world with more than 3.1 million borrowers with a gross loan portfolio of more than USD 1.7b as of Dec 2003. Indonesia’s successful experience in microfinance is further shown during the hard-hitting Asian Financial Crisis in 1997 to 1998. At a time when commercial banks were collapsing, savings in microfinance institutions rose from IDR 8 trillion in 1997 to about IDR16 trillion in 1998, as depositors sought the stability of these institutions. There are however
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