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Essay / Research Paper Abstract
This 11-page paper focuses on the main reasons for the Asian financial crisis, and how it impacted the fast-growth pardigm the region was experiencing prior to 1997. Bibliography lists 16 sources.
Page Count:
11 pages (~225 words per page)
File: D0_MTasifin.rtf
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Unformatted sample text from the term paper:
In just a matter of months, gone was the "Asian Miracle" - the scenario that fostered super-hot growth in countries such as Indonesia and Malaysia. Gone was the foreign investment
dollars pouring into East Asian economies, dollars that had, in part, fueled the fantastic growth of the region. And gone, finally, was the growing economy that had been written about
by many international business writers, as they probed and pondered why these economies had been so successful. In its place are voices that
are older and wiser. In place of the business articles presenting glowing reports of a fast-growing East Asia are more calm assessments of what went wrong, if anyone is trying
to fix it, and when it will ultimately be fixed. While no one is sure what the upshot of the crisis will be for years to come, it is certain
that some interesting lessons will be learned from this crisis. In this paper, well examine the main causes of the Asian financial crisis
(from all angles), then discuss how the crisis has for the Asian growth paradigm. The Crisis - An Overview The Asian financial crisis
of 1997 was all the more surprising, especially given the fact that it impacted a group of countries that had, until that time, been experiencing steady economic growth (Zhang, 2000).
Since the 1970s, the East Asian countries enjoyed strong economic growth, party due to strong macroeconomic stabilization policies and high savings rates in the public and private sectors (Zhang, 2000).
This ended up leading to accumulation of needed capital to spur public and private investments in the economies (Zhang, 2000). In addition, the economies were relatively open - East Asia,
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