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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]
Jul 2, 2024 · The 1997–98 Asian financial crisis began in Thailand and then quickly spread to neighbouring economies. It began as a currency crisis when Bangkok unpegged the Thai baht from the U.S. dollar, setting off a series of currency devaluations and massive flights of capital.
Apr 19, 2024 · The Asian financial crisis started in July 1997, when Thailand stopped defending the baht after months of downward market pressure, causing the currency to fall quickly. The contagion...
The Asian Financial Crisis is a crisis caused by the collapse of the currency exchange rate and hot money bubble. The financial crisis started in Thailand in July 1997 after the Thai baht plunged in value. It then swept over East and Southeast Asia.
Nov 22, 2013 · 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.
The financial crisis that struck many Asian countries in late 1997 did so with an unexpected severity. What went wrong? How can the effects of the crisis be mitigated? And what steps can be taken to prevent such crises from recurring in the future?
Dec 30, 2016 · 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?
Jun 5, 2012 · The financial crisis that erupted in 1997 and engulfed Asia in gloom through the end of the millennium came as a shock to virtually all observers. The preceding decade had witnessed the end of the Cold War and the apparent triumph of liberal capitalism.
The Asian financial crisis, which spread from Thailand to other countries in the region during the second half of 1997, plunged the countries affected into deep recessions that brought rising unemployment, poverty, and social dislocation.
Using an early warning system (EWS) model, this paper provides more empirical evidence on the causes of the 1997 Asian financial crisis, with a view to discriminating between the two hypotheses of “weak fundamentals” and “investors’ panic.”
