Thailand and the East Asian Financial Crisis

Paper Summary:

The essay examines the conditions in Thailand that led to effective devaluation of the Thai Baht in July of 1997 and the reasons for the "contagion" that affected other East Asian economies. The paper also includes a survey of the reforms undertaken by the Thai Government since the crisis.

Contents:
Introduction
Economic Growth before the Crisis
Macroeconomic Policy Mix before the Crisis
Financial Sector before the Crisis
Regulatory Weaknesses before the Crisis
Reasons for Contagion in Other Countries
Survey of Reforms
Conclusion

From the Paper:

"The countries of East Asia have long been called the "Asian Tigers? due to growth rates averaging 8 per cent annually over the past two decades; large rises in per capita income, high domestic savings, low budget deficits and low inflation. However, it appears that the very success of high economic growth of these countries led foreign investors to underestimate the underlying economic weaknesses as the East Asian Financial crisis unfolded."

More papers on Thailand and the East Asian Financial Crisis:

• Essay # 90591 : "The Financial Crisis in East Asian Economies"
• Term Paper # 129259 : "South Korea and the IMF"
• Research Paper # 8642 : "Asian Financial Crisis"

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MLA Citation: