The History of the Asian Financial Crisis
Within months currencies across the region were falling too.
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1.What happened on July 2, 1997?
Within months currencies across the region were falling too.
2.What did pegs to the US dollar do before the crisis, per the Fed history essay?
A peg feels safe: you borrow in dollars and the rate barely moves; the IMF also pointed to inflated property and stock prices and weak bank supervision.
3.Marge owes 10,000 dollars with a rate of 25 per dollar. What is her debt in home money?
Her sales still come in home money.
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Sources (6)
- Asian Financial Crisis (Essay) (Federal Reserve History (Board of Governors of the Federal Reserve System))
- Recovery from the Asian Crisis and the Role of the IMF (IMF Issues Brief, June 2000) (International Monetary Fund)
- The Asian Crisis: Causes and Cures (Finance & Development, June 1998) (International Monetary Fund (IMF-Mitarbeiter))
- World Development Indicators: GDP growth (annual %), NY.GDP.MKTP.KD.ZG, Thailand, Indonesien, Korea, Malaysia, 1996-1999 (World Bank)
- World Development Indicators: Official exchange rate (LCU per US$, Periodendurchschnitt), PA.NUS.FCRF, 1996-1998 (World Bank)
- Eigene Rechnung: synthetische Haendlerschuld in Dollar bei Abwertung (Marge
Education only. Not financial advice.