Papers > History > south east asian crisis
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south east asian crisis
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Southeast Asian Financial Crisis
During the summer of 1997, Southeast Asia was affected by one of the most devastating financial and economic crises ever seen. This was a surprising turn of events for the Asian economies. For many years prior to this crisis, Asia had experienced substantial economic growth, very low unemployment and an almost invisible wealth gap between social classes. ...
In order to understand the causes of this crisis it is necessary to understand the economic environment that existed prior to 1997. The Southeast Asian region held many investment opportunities for American businesses as well as others. ... Under a policy of liberalization, Asian countries removed foreign exchange controls, interest rate restrictions and other regulations aimed at protecting their economies. ... The Asian economies were inflated with large amounts of foreign investment capital. This led Asian governments to favor the most rapid growing industries and business offering them monetary incentives in order to guarantee their survival. ...
Thailand along with other Asian countries had their currency pegged against the U. ... The Asian stock markets plummeted, as did markets across the world.
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Paper Information
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Title: south east asian crisis
Words: 857
Rating: None
Pages: 3.4
submitted by: almost
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