Asian crisis, economics, Microeconomics

Asian Crisis: Between 1997-98, several of the East Asian tiger economies suffered a severe economic and financial crisis. it had big consequences in the global financial markets, that had made increasingly exposed to the promise which Asian had seemed to offer. This crisis destroyed wealth on a massive scale & sent absolute poverty shooting up. The banking system alone or by corporate loans equivalent to around half of one year''s GDP went bad a destruction of savings on a scale more generally related with a full-scale war. The precise cause of the crisis ruins a matter of debate. The fingers have been pointed to currency peg accepted by some countries & a decrease of capital controls in the years before the crisis. Some blamed economic contagion. The crisis brought an end to a then widespread belief which there was a distinct "Asian way" of capitalism that might prove just as successful as capitalism in America or Europe. Instead, critics turned their fire on Asian cronyism, ill-disciplined banking & lack of transparency. In the years following the crisis the most of the countries included have introduced reforms designed to increase transparency & get better the health of the banking system & although some went much further than others like as Indonesia.

Asian Crisis, Can you Explain me more about Asian Crisis
Posted Date: 2/4/2012 11:55:26 PM | Location : United States

Related Discussions:- Asian crisis, economics, Assignment Help, Ask Question on Asian crisis, economics, Get Answer, Expert's Help, Asian crisis, economics Discussions

Write discussion on Asian crisis, economics
Your posts are moderated
Related Questions
Term Paper: A final paper that focuses on the course content, applied in the setting of your current or past employer, will be due in Module. In this paper you will focus on the fo

Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co

explain two theories of economic rent

Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th

What is the difference between GDP and GNP?  Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea

what is the total cost if the price of 10,quantity demanded is 900000, at $20 it is 800000? The author is paid 2 million dollars to write a book, the marginal cost of publishing t

The Efficiency of a Competitive Market *? When an competitive markets generate an inefficient allocation of the resources or market failure?   1) Externalities Costs

Domestic Policy Failures: i) There is too much emphasis on "ownership" ownership of bad policies can lead to disasters. So, at times, the Fund and the Bank will need to be "p

The production function for (a Music company ) their CDs is q= 25*K*L , where q is the number of CDs produced each month, K is the hours of equipment used, and L is the hours of la

1.  Clorox lowers the price of its GreenWorks TM bathroom cleaner.  All other things remaining the same, choose how you think this will impact the market price of Pine-Sol. (Circl