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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]
Apr 19, 2024 · 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 across Asia.
Oct 7, 2024 · 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 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.
Oct 1, 1999 · 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?
Apr 11, 2024 · The Asian financial crisis started in Thailand with the collapse of the Thai baht in July 1997. What began as a currency crisis soon affected the wider economy and spread quickly to the rest of the region, leading to economic downturns in several countries.
Nov 22, 2013 · 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.
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?
Aug 21, 2024 · The Asian financial crisis began in 1997 due to constant currency devaluations, which caused stock market and asset price volatility. It started in Thailand when it unpegged the Thai baht to the U.S. dollar.
The Asian financial crisis was caused by both, the government provided fixed exchange rates meaning that they were perpetually artificially holding the value of the currency up and there was significant “hot money” in the private sector. Hot money is money that quickly moves around the market in search of returns.
