Asian Financial Crisis

  • The Financial Crisis

    In 2007, the US financial system began to collapse. The trust link between the different financial institutions, such as Investment Banks or Insurance Companies, broke – crashing all the financial system. The collapse of all the US banking system had consequences everywhere in the world. No one, from the strongest European countries to the poorest places in the world, was spared. To understand the whole current situation, we have to look back in the 80s and 90s when the deregulation started. Deregulation

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  • Financial Crisis

    Financial Crises: Theory and Evidence Franklin Allen University of Pennsylvania Ana Babus Cambridge University Elena Carletti European University Institute June 8, 2009 1. Introduction Financial crises have been pervasive phenomena throughout history. Bordo et al. (2001) find that their frequency in recent decades has been double that of the Bretton Woods Period (1945-1971) and the Gold Standard Era (1880-1993), comparable only to the Great Depression. Nevertheless, the financial

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  • Financial Crisis

    like to be : chapter 15 from today's viewpoint Financial Crisis It’s commonly believed that the financial crisis happened during 2008~2009 is one of the most serious financial events in human history. A collapse of the US sub-prime mortgage market and the result of the housing boom in other industrialized economies have had a ripple-effect around the world. Furthermore, the other failures in the global financial system have surfaced. Some financial products and instruments have become so complex

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  • The East-Asian Crisis

    THE EAST ASIAN CRISIS Introduction: The East Asian crisis was a period of financial crisis that gripped much of Asia which beginning in July 1997 and raised fears of worldwide economic meltdown due to financial contagion.1 Several countries such as Malaysia, Thailand, Indonesia, the republic of Korea and the Philippines were hit directly while others such as Taiwan province of China, Singapore and especially Hong Kong, China were badly affected. What began as a speculative attack on the Thai baht

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  • Financial Crisis

    O C C A S I O N A L PA P E R S E R I E S N O 1 2 3 / F E B R UA RY 2 011 THE INTERNATIONAL MONETARY SYSTEM AFTER THE FINANCIAL CRISIS by Ettore Dorrucci and Julie McKay OCCASIONAL PAPER SERIES NO 123 / FEBRUARY 2011 THE INTERNATIONAL MONETARY SYSTEM AFTER THE FINANCIAL CRISIS by Ettore Dorrucci and Julie McKay1 NOTE: This Occasional Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not

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  • Financial Crisis

    09-093 July 22, 2009 The Global Financial Crisis of 2008 – 2009: The Role of Greed, Fear and Oligarchs Cate Reavis Free enterprise is always the right answer. The problem with it is that it ignores the human element. It does not take into account the complexities of human behavior. 1 —Andrew Lo, Professor of Finance, MIT Sloan School of Management The problem in the financial sector today is not that a given firm might have enough market share to influence prices; it is that one firm or a

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  • Asian Financial Crisis

    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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  • Lesson from Asian Crisis

    The financial crisis which began in July 1997 in the East Asian countries, Thailand, Indonesia, Malaysia and Korea, has had devastating effects on their economies. Growth rates in these countries which were in excess of five percent before 1997, turned sharply negative in 1998 and, at the time of this writing it is not yet clear when these economies will turn the corner and resume positive rates of growth. This paper examines why these countries, which were part of what has been termed "the

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  • Asian Crisis

    Table of content Page Introduction 1 Asian Contagion 1 Emerging Market Crises 3 Meltdown in Thailand

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  • Financial Crisis

    In the years leading up to the crisis, high consumption and low savings rates in the U.S. contributed to significant amounts of foreign money flowing into the U.S. from fast-growing economies in Asia and oil-producing countries. This inflow of funds combined with low U.S. interest rates from 2002-2004 resulted in easy credit conditions, which fueled both housing and credit bubbles. Loans of various types (e.g., mortgage, credit card, and auto) were easy to obtain and consumers assumed an unprecedented

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  • Financial Crisis

    In the aftermath of the financial crisis of 2007, there has been a great deal of debate regarding the key underlying causes. For example, when people discuss the collapse of the financial markets, the most frequently mentioned word is subprime mortgagewhich is considered as the culprit of the crisis. Yet, is subprime mortgage the root of the crisis? If it was, then the question would be how this type of financial product, which is only marginal part of the financial market, could cause such a

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  • Financial Crisis

    The Financial Crisis The financial crisis has resulted in the collapse of large financial institutions, taken billions of dollars from bank costumers, and caused high unemployment rates. This has been going on for a long time and is only getting worse. Some say the government needs to stay out of the crisis and some say the government needs more regulation. In order to save our economy from the financial crisis, the government needs to enact proper regulations. The aim of those regulations must

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  • Impact of the Asian Financial Crisis in 1997 and Effect to Latin America

    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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  • Asian Currency Crisis

    FIN 190 Asian Currency Crisis The Asian currency crisis of 1996-97 brought to light the dangers of financing massive amounts of debt in a foreign currency which the domestic currency is pegged to. It also illustrated how developing countries are ill prepared to cope with such large scale financial issues. The projected continued growth in the Asian markets was built heavily on exaggerated predictions. Between 1990 and 1996 the area witnessed an exponential development period

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  • Overview of the Asian Financial Crisis

    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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  • Financial Crisis

    The Global Financial Crisis Introduction The global financial crisis which started in early 2007 has proven to be perhaps the great financial catastrophe in history. Although it traces its roots back to the starting of the millennia, the subsequent meltdown was most gruesome over the past 3 years. What began as a crisis of the sub-prime mortgage market in the United States quickly transcended national borders and developed into a upheaval of epic proportions. What ensued was a systematic debacle

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  • Financial Crisis

    –Strumica Financial Crisis -esej- Predmet:Angliski jazik 1 Izrabotil: Profesor:Natka Jankova Elena Garvanlieva Indeks: 9532 Strumica,dekemvri 2012 Throughout the history and even today we often hear about the term financial crisis. Every

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  • Financial Crisis

    Throughout the history and even today we often hear about the term financial crisis. Every day on the news we can hear about the financial crisis in some countries and how they are trying to prevent it or to get out of it. Especially about the financial crisis in Greece. So what exactly is financial crisis? There have been a lot of definition of what financial crisis is, but they all agree in one thing financial crisis appears when some institution or assets suddenly lose a large part

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  • Asian Crisis

    The Asian financial crisis (sometimes referred to as the "Tom Yum Gung crisis" after the Thai hot-and-sour soup) started with the devaluation of Thailand’s Bath, which took place on July 2, 1997. This first devaluation of the Thai Baht was soon followed by that of the Philippine Peso, the Malaysian Ringgit, the Indonesian Rupiah and, to a lesser extent, the Singaporean Dollar. What began as a currency crisis soon affected the wider economy and led to economic downturns in other countries in the region

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  • How Useful Is the Psychology of Investors in Explaining the Asian Financial Crisis?

    first year of the crisis, over $200bn had fled from the five SEA markets, an astounding 18% of their combined GDPs. While investor psychology was the trigger to the AFC, it is useful in explaining the AFC only to a certain extent as it explains why the AFC started when it did, but not why it happened. The decline in investor psychology was a response to the signs brought about by existing economic and financial vulnerabilities- if not for the underlying factors of Thailand’s financial sector weakness

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  • Asian Crisis

    Asian Crisis • What happened and when did it happen? Asian Crisis that hit pacific Asian in middle 1997, it liked a big earthquake suddenly hit Southern Asia. In Thailand, the July 2, 1997 when it currency had to devalue, the baht, about 20% against the US dollar, as a result of intense pressure in the foreign exchange market. Not only currency speculators but also many Thai residents were trying to sell the baht and buy the US dollar, causing and worsening capital flight out of the country,

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  • Financial Crisis

    FINANCIAL CRISIS: WHERE DID RISK MANAGEMENT FAIL? Gabriele Sabato Royal Bank of Scotland1 Abstract The real estate market bubble and the subprime mortgages have been often identified as the causes of the current financial crisis, but this is not entirely true or, at least, they cannot be considered as the main cause. A poor regulatory framework based on the belief that banks could be trusted to regulate themselves is among the main sources of the crisis. At the same time, risk management

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  • Financial Crisis

    Syndicate group assignment What were the origins of the Asian currency crisis? The Asian currency crisis was a period of financial crisis started in Thailand in July 1997. Many Asian countries experienced a financial crisis are a large drop in the value of its currency and a large drop in its traded equity prices. Before the crisis happened, many Asian countries produced a dramatic reduction in poverty and rapid economic growth. Behind the boom, there

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  • Asian Crisis

    into a well managed, fully functional company that can stand on its own, and ready to face public capital market’s scrutiny after an IPO. b) Investment Bank Underwriters: Help entrepreneurs in the actual process of doing IPO, provide advisory financial service, price company offerings, underwrite and introduce shares to investors. c) Sell-Side analysts: Publish research on public companies, Form relationships with and talk to managements of the companies, Follow trends in the industry, Make buy

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  • Financial Crisis

    End of the Financial World as We Know It provided a very detailed review of what lead up to the 2008 financial crisis. I felt that the author did a very good job being objective and taking a very difficult topic and presenting it in a straight forward manner. thought I did feel a little disheartened after reading the article. How could this have been let to go so far and have we really learned anything from the 2008 financial crisis. The article titled How to Repair a Broken Financial World was

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  • Financial Crisis

    Economic Research Paper April 18, 2010 After two years after the financial crisis of 2008, the Congress is ready to step up and start implanting a new plan. The Senate Banking Chairman, Christopher Dodd, released the Restoring American Financial Stability Act of 2010 on March 15th 2010. This bill includes the revisions to the bill Dobb presented to the Senate in November of 2009. Some of the bill was improvements to The “Schumer Bill”, The Shareholder Bill of Rights, which was proposed by

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  • East Asian Economic Crisis

    East Asian Economic Crisis A large economic downturn in East Asia threatens to end its nearly 30 year run of high growth rates. The crisis has caused Asian currencies to fall 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devaluations, bad banking practices, high foreign debt,loose government regulation, and corruption. Due to East Asia's large impact on the world economy, the panic in Thailand, Indonesia, Korea,

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  • Financial Crisis

    The exploding of financial crisis in south East Asia, starting with the floating of the Thai baht in July 1997 has attracted heated debate on the causes and effects of the financial crisis and the appropriate and necessary responses at national and international level. My focus will be based on Singapore. Singapore has a very open economy both in current and capital accounts. The impact of financial crisis in Singapore have not been that severe due to the strong macroeconomic fundamentals, policies

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  • Financial Crisis

    The exploding of financial crisis in south East Asia, starting with the floating of the Thai baht in July 1997 has attracted heated debate on the causes and effects of the financial crisis and the appropriate and necessary responses at national and international level. My focus will be based on Singapore. Singapore has a very open economy both in current and capital accounts. The impact of financial crisis in Singapore have not been that severe due to the strong macroeconomic fundamentals, policies

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  • Financial Crisis

    knowing very few things about financial market and services (FMS). However, after 4 weeks of research and many enthusiastic discussions among our group members, it has helped me understand a lot more about FMS as well as the financial crisis, specifically sub-prime crisis. To begin, from doing this project I have come to know that financial markets in the world are interconnected. When US financial system collapsed, with the demise of some of the biggest financial institutions in US, it jeopardised

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  • Financial Crisis

    FINANIAL CRISIS 2008 AND CORPORATE GOVERNANCE The business world is questioning whether Corporate Governance has become a mere catchphrase, divorced from the contentious problems it is supposed to solve… MEMBERS: AYUSH KUMAR-030 NIPEKSH I MAHAJAN-082 PRABHAV MISHRA-0 PRATEEK KUMAR-096 VAIBHAV JAIN-164 “Why should a financial engineer be paid four, four times... to a hundred times more than the real engineer? A real engineer build bridges, a financial engineer build, build dreams. And

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  • Imf’s Role on Asian Crisis

    2014 IMF’s Role on Asian Crisis In July of 1997 Thailand devalued the Baht and thus began the ‘Asian Crisis’ that would soon affect other Southeast Asian countries including the other two that were hit the hardest Indonesia and South Korea. Each country had no choice but to seek help from The International Monetary Fund (IMF). The IMF would have to pull through in aiding these countries out of this crisis, after carefully reviewing each country and see to what extent their financial problems had developed

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  • East Asian Crisis

    East Asian Crisis Financial crisis is a situation in which some financial institutions or assets suddenly lose a large part of their value. East Asian crisis was a series of currency devaluations and other events that spread through many East Asian countries beginning in the summer of 1997. The countries majorly affected by this were: 1. 2. 3. 4. 5. 6. South Korea Japan Thailand Indonesia Malaysia Philippines The countries at the center of the recent crisis were for years admired as some of the

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  • Financial Crisis

    R i s k M a n a g e m e n t: The Current Financial Crisis, Lessons Learned and Future Implications Essay on the Financial Crisis by Andrew Winkler The current crisis is catalyzing an array of responses, in- make housing prices inversely proportional to the interest goating and a massive capital injection. Without a clear un- When those rates double, house prices are slashed in half. cluding searching for causes, reworking regulations, scapederstanding of the cause, the remedies may do more harm

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  • Financial Crisis

    than the United States and the United Kingdom during the 2007-2009 financial crisis ? 1. Global financial crisis 2007 to 2009 1.1 Background The 2007-2009 financial crisis started as a sub-prime crisis in the United States (US). The Wall Street, driven for higher profits and low federal fund rate in home ownership began lending to sub-primes (Whalley et al, 2009). The mortgage loans were then re-packaged into financial instruments and sold to investors globally. When the housing prices

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  • Financial Crisis

    Cunent Politics and Economics of Europe ISSN: 1057-2309 Volume 21, Issue 1 © 2010 Nova Science Publishers, Inc. ICELAND'S FINANCIAL CRISIS* James K. Jackson ABSTRACT On November 19, 2008, Iceland and the Intemational Monetary Fund (IMF) finalized an agreement on a $6 billion economic stabilization program supported by a $2.1 billion loan from the IMF. Following the IMF decision, Denmark, Finland, Norway, and Sweden agreed to provide an additional $2.5 billion. Iceland's banking system had

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  • Reflection on the Asian Financial Crisis

    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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  • Financial Crisis

    What triggered the Financial Crisis Although a number of developments helped trigger the recent financial crisis, the most devastating were the significant losses on mortgage loans to subprime borrowers. The impact of these losses only became known shortly after house prices began to decline. In order to prevent a deep recession after the September 2011 terrorist attacks, the Federal Reserve drastically reduced interest rates. These low rates allowed citizens to continue taking out loans, including

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  • Financial Crisis

    poorest nations in Europe to becoming one of the most successful economies in the West, the geographically isolated country of Iceland suffered a lot when its three major banks collapsed in the same week in October 2008. As a consequence of the banking crisis, Iceland entered a deep recession and deep cuts in employment were made and the exchange rate dropped sharply which caused the inflation to soar. The Central Bank of Iceland has been criticized for its monetary policy in the past and how it handled

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  • Asian Financial Crisis

    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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  • Financial Crisis

    Financial Crisis Introduction In recent decades, financial crises have stopped the momentum of economic development of many countries around the world. In some cases, they have destroyed almost completely different financial systems. The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions

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  • Financial Crisis

    of America. e o ISBN 978- 0-470-56516-2 The Financial Crisis: 2007-2009 Objectives Understand the major influences that led to the 2007 2009 Financial Crises Describe the role that agency cost issues played in the financing of mortgages to developing mortgage backed securities and other financially engineered securities based on mortgages Describe the timeline of events that unfolded during the financial crisis Explain how financial managers must consider the risk, not only the return

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  • Financial Crisis

    THE GFC AND ITS AFFECTS The Global Financial Crisis was caused because of yield seeking entities who took speculative positions via derivatives on mortgages, but didn't own the underlying bonds. The shock happened because when the housing market went south, the people who shorted housing were due to be paid a lot, and the banks were overexposed to cover those losses. The Fed Reserve's role was to utilize monetary policy to ensure liquidity in this credit crisis, when banks were cash strapped. Thus

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  • Financial Crisis

    Economics Crisis and Response: Case Study of Malaysia’s Responses to Asian Financial Crisis Journal of Contemporary Eastern Asia Vol. 11, No. 1: 43-56 Journal abbreviation: J. Contemp. East. Asia Stable URL: Open Access Publication Creative Commons License Deed Attribution-No Derivative Works 3.0 Journal of Contemporary Eastern Asia, Volume 11, No.1: 43-56 Economics Crisis and Response:

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  • Financial Crisis

    The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.[1][2] Financial crises directly

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  • Financial Crisis

    Lebanese American University School of Business Economics Department Advanced Topics in Economics Midterm Paper Perspective on the Financial Crisis of 2007-2008 Fatima Sobh 200903216 By early 2007, the crisis started in the U.S. with the collapse of the subprime mortgage market and by reaching the end of a major booming housing era. It occurred just after two years of raising the interest rates policy. Not only had it affected mortgages, it reached the banking sector in the U.S.

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  • Asian Crisis 1997

    | Asian Crisis of 1997 | | | Prepared by:Azra Becirovic and Sanela Bilalic | | April 21, 2012 | Long before Asian financial crisis has started, South Korea, Thailand, Indonesia, and Malaysia had an increasing economic performance; economy was fast growing, saving rates were high, and inflation low. Turning point in Asian economy was 2 July 1997, the day when Thai Baht fell around 20 % against the $US. “It all began in Thailand’ summarizes the conventional explanation of the early

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  • Financial Crisis

    financial crises are major disruptions in financial markets characterized by sharp declines in asset prices and firm failures. Most people think that the financial crises result from the subprime crises. Investors have no confidents on the mortgage-backed securities. Six categories of factors play an important role in financial crises Asset market effects on balance sheet: A sharp decline in the stock market is one factor that can cause a serious deterioration in borrowing firms’ balance sheets

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  • Reaction on Asian Financial Crisis

    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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  • Asian Economic Crisis

    The Asian Economic Crisis The Asian Economic Crisis of 1997 was a regional debacle that stirred and involved practically the rest of the world. It was a unique economical situation that no one expected or suggested. The southeastern Asian countries, such as Thailand, South Korea and Indonesia were financially sound and satisfied all the criteria that economists proclaimed necessary to maintain order and progress. However, economists and the rest of the world did not see the breaches in the

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