This article needs additional citations for verification. Please help improve this article by adding citations to reliable merkezburasi.comced material may be challenged and removed. April ) (Learn how and when to remove this template message). Asian financial crisis: Asian financial crisis, major global financial crisis that destabilized the Asian economy and then the world economy at the end of the s. Though it is generally characterized as a financial crisis or economic crisis, it can also be seen as a . Aug 01, · To draw proper policy conclusions from the crisis, it is necessary to understand exactly what happened and why from both a political and an economic perspective. In this study, renowned political scientist Stephan Haggard examines the political aspects of the crisis in the countries most affected—Korea, Thailand, Malaysia, and Indonesia.
Asian financial crisismajor global financial crisis that destabilized the Asian economy and then the world economy at the end of the s. The —98 Asian financial crisis began in Thailand and then quickly spread to neighbouring economies. It began as a currency crisis when Bangkok unpegged the Thai baht from the U. In the first six months, the value of the Indonesian rupiah was down by political economy of the asian financial crisis percent, the Thai baht by more than 50 percent, the South Korean won by asia carerra lesbian 50 percent, and the Malaysian ringgit by 45 percent. Significant in terms of both its magnitude and its scope, the Asian financial crisis became a global crisis when it spread to the Russian and Brazilian economies.