Chronology of the Asian Financial Crisis
In July 1997, Thailand became the first Asian "tiger" economy to abandon its fixed exchange rate system in response to speculative attacks on its currency. Investors started to flee Asia, and the crisis rapidly spread to other countries. Central banks spent billions of dollars to try and defend their currencies, only to seek emergency bailouts from the International Monetary Fund. This case presents a chronology of events that unraveled during the Asian financial crisis from 1997 to the end of 1998.
Collection: HBSP (USA)
Ref: HBS-708001-E
Format: PDF
Number of pages: 15
Publication Date: Feb 7, 2008
Language: English
Review date: Apr 23, 2009
Description
In July 1997, Thailand became the first Asian "tiger" economy to abandon its fixed exchange rate system in response to speculative attacks on its currency. Investors started to flee Asia, and the crisis rapidly spread to other countries. Central banks spent billions of dollars to try and defend their currencies, only to seek emergency bailouts from the International Monetary Fund. This case presents a chronology of events that unraveled during the Asian financial crisis from 1997 to the end of 1998.
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Year: 1997
Geographic Setting: Japan;Indonesia;Malaysia;Thailand;South Korea
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"Chronology of the Asian Financial Crisis"
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