Nobody downloaded yet

East Asian Financial Crisis - Essay Example

Comments (0) Cite this document
Summary
The paper provides a review of past researches made on the area and tries to encompass the causes as well as the impact of the East Asian financial crisis of 1997-98. In addition, a paragraph has been added as a conclusive note about the lessons learnt from the crisis, as figured out by various researchers…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.7% of users find it useful
East Asian Financial Crisis
Read TextPreview

Extract of sample
"East Asian Financial Crisis"

Download file to see previous pages The intention of this study is the East Asian financial crisis of 1997-98 that culminated into one of the most devastating global shocks in the twentieth century. Its far-fetched effect could be compared with nothing less than that of the Great Depression of 1930s which had entwined the US economy into stagflation. In fact, what prevented the 1930s depression from spreading out throughout the world was the lack of ample networking among various economies. On the other hand, the impact of the East Asian crisis by the end of the millennium was more brutal or burgeoned due to a close-knitted financial relationship already been accomplished between them. The link was especially prominent among the underlying economies in South East Asia, bound together by a regional pact ASEAN that aimed at strengthening and shielding at the same time, the international trade position of the East Asian tigers. These economies had secured massive as well as exemplary economic growth rates that awed many others. When these economies were recording a growth in real income equal to 7 percent per annum, the US economy lagged behind at a modest 2 percent. Many nations tried to imitate the fiscal configuration of policies being framed by these nations. However, the cheap labor that the economies in the South East Asian region were endowed with, could not be equaled anywhere else in the world. Hence, it was infeasible for others to carry on their production and supply their outputs at competent prices in the world market. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“East Asian Financial Crisis Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
East Asian Financial Crisis Essay Example | Topics and Well Written Essays - 2750 words. Retrieved from https://studentshare.org/finance-accounting/1563666-east-asian-financial-crisis
(East Asian Financial Crisis Essay Example | Topics and Well Written Essays - 2750 Words)
East Asian Financial Crisis Essay Example | Topics and Well Written Essays - 2750 Words. https://studentshare.org/finance-accounting/1563666-east-asian-financial-crisis.
“East Asian Financial Crisis Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/finance-accounting/1563666-east-asian-financial-crisis.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
East asian studies china
...? East Asian Studies China 7. John Gittings (The Changing Face of China) (p.7) observes that China has yet to come to terms with its Mao era history. What lessons does Philip Pan’s essay on the Chongqing ‘cemetery’ teach about the Cultural Revolution (CR)? Compare them to the goals of the CR discussed in Gittings chapters on the CR. The Cultural Revolution in China is a very controversial issue. Lots of historians try to analyze and assess the significance and consequences of the policy launched by an odious personality in China’s history Mao Zedong. Still, a profound historian and journalist John Gittings suggests the idea that the role and impact of Cultural Revolution on modern China’s economy is...
5 Pages(1250 words)Essay
Asian Financial Crisis 1997
...level of economic activity, i.e. consumption and investment. Nevertheless, that flow did not last long; in fact, during 1997/98 there was a huge outflow of capital accompanied by a very low level of economic activity, which led to the financial crisis of 1997/98. This crisis went beyond the country's control, and the International Monetary Fund stepped in to bail Thailand out with billions of dollars. From 1975 to 1989, economic and political conditions, both internal and external, were conducive to Thailand's growth. Whereas most of the lesser developing countries (LDCs) were pursuing import substitution policies to achieve self-sufficiency, Thailand and a few other...
48 Pages(12000 words)Coursework
East Asian
...The Records of the Grand Historian was written from 109 B.C. to 91 B.C. It can be considered as the pinnacle of the writings of Sima Qian. The work records the history of China from the times of the mythical Yellow Emperor until his period. It is considered as the first systematically written historical Chinese text and it greatly influenced succeeding Chinese historiography. Many compare Sima Qian's work to that of Herodotus' Historiai. The Records of the Historian gave Qian the opportunity to record history as he saw and interpreted it. It was his father, Sima Tan, who began the project requested him to write it after the old man's death. Qian had the prerogative to choose who, what, why and how things happened in his history... Records of ...
4 Pages(1000 words)Essay
The East Asian Financial Crisis in 1997
...The East Asian Financial Crisis in 1997 The East Asian financial crisis in 1997 downturn is believed to have occurred due to fundamental economic weaknesses. "Others have claimed that East Asia fell prey to a sudden shift in investor confidence," (Joosten para 2). The market sector contributed immensely towards the Asian economic growth. The economic weakness had more serious consequences to the upcoming market. Most of these emerging market economies were adversely impacted on and at the end collapsed. The International Monetary Fund (IMF) tried though it delayed in...
8 Pages(2000 words)Essay
South East Asian Financial Crisis
...Introduction: The origin of South East Asian financial crisis was in Thailand, with the collapse of Thai Baht mainly due to real e problem. Evenbefore the collapse of its currency it had become bankrupt as it had acquired lot of foreign debt. Apart from Thailand, South Korea and Indonesia were most affected, though practically almost all countries in the region had suffered its impact. Foreign Debt to Gross Domestic Product (GDP) ratio rose by almost 60%. Chapter 1: Formation of Association of South East Asian Nations (ASEAN) ASEAN consisted of Indonesia, Malaysia, Singapore, Philippines, Thailand, Brunei, Vietnam, Myanmar, Laos and...
14 Pages(3500 words)Essay
Asian financial crisis of 1997
...Development Bank (October 2006) South Asian Economic Report retrieved 14 April 2007 http://www.adb.org/Documents/Reports/South-Asia-Economic-Report/economic-report.pdf 2. Democracy and the Korean Economic Crisis (March 18, 1998) retrieved 14 April 2007 http://www.nautilus.org/fora/security/15A_MoMoon.html 3. World Bank (2007f) East Asia and pacific Regional Update retrieved 14 April 2007 http://siteresources.worldbank.org/INTEAPHALFYEARLYUPDATE/Resources/550192-1175629375615/EAP-Update-April2007-summary.pdf 4. World Bank (2007a) East Asia Update: Financial Trends and issues retrieved 14 April 2007...
12 Pages(3000 words)Essay
East Asian Economy and the 2008/2009 Financial Crisis
...East Asian Economy and the 2008/2009 Financial Crisis Introduction World economy is going through one of the worst phases at present because of the severe setbacks many of the countries faced in their economic growth. Irrespective of developed or developing countries, the current crisis has affected all of them one way or other. The crazy lending habits of the banks without assessing the financial capabilities of the loan seekers, the changing life styles of the public (spending all the money which they earn rather than saving) have contributed heavily to the current financial crisis. ‘The reasons for...
12 Pages(3000 words)Essay
East Asian civilization: Japan
... East Asian civilization: Japan In the mid 19th century, Japan was characterized as being feudal. There werealso some primitive tribal elements in the Japanese society. The Tokugawa state was divided into four main social classes. The military class came first, common peasant farmers followed below them, and the craftsmen and artisans came below the peasant. At the bottom of the social class was the commercial class. Individuals who lived through trading rather than physical labor in the farms were degraded in the society; even the artisans did not effectively fit into the simple peasant society (Bellah 87). There were feudal domains such as the Daimyo domains, which had their administrative structures, armies and fiscal systems...
1 Pages(250 words)Essay
Asian Financial Crisis and Globalisation
..., the government failed to allow an orderly depreciation but fought the market forces because it thought it had enough foreign exchange reserves and wanted to avoid the high political costs associated with the devaluation of baht. With this move, the baht was finally allowed to float and its value fell. Contagion and its Impacts Contagion refers to the spread of a financial crisis from one institution to another or from one country to another according to Walker (1998). For instance, the Asian financial crisis has spread from Thailand to other countries in the East of Asia, Latin America and Russia despite their differences. The...
2 Pages(500 words)Essay
1997-1998 Asian financial crisis
...Asian Financial Crisis of 1997-1998 The economic crisis in Asia of 1997-99 was an exceptional event in the territory’s postwar history. Beginning from the growth period during 1950s and 1960s East Asia didn’t seem to experience massive shock of the happening. Huge amount of attention was given to economic scale specifically to forces of the market and choice of the economic policies that might have caused this contraction. More than that, the crisis itself went out to international political level that concentrated on the timeless clash between debtors and creditors within the world economic sphere. At the moment when economy starts to...
12 Pages(3000 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic East Asian Financial Crisis for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us