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Essay / Research Paper Abstract
This 6 page paper considers the Asian Currency Crisis of 1997 and looks at the causes and agues that there were many causes, including liberalisation and regulation levels, but that the situation was worsened by the short term measures taken by the governments concerns, The paper looks at the entire area, but Thailand is used as a specific representative example. The bibliography cites 5 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEasiacc.rtf
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Unformatted sample text from the term paper:
over regulations and restrictions causes the collapse as well as claim that it was under regulations in a developing liberalised economy. There are probably elements of truth in both
of these arguments. However, it is necessary to look at the events and how they led to the crisis. The events were different in each country, but followed a similar
pattern leading to the convergence was characteristic of the crisis. In this paper the focus will be Thailand, but the lessons learnt are universal.
In the years before the crisis the economies of the Southeast Asian economies were booming there was a great level of success lead by the economies we now
refer to as the Tiger Economies. The average rate of growth was 8% per annum in the decades prior to the crash and the effect of the growth was to
bring the original four Tiger economies out of the status of developing countries, Hong Kong, South Korea, Singapore and Taiwan all became classed as developed (Woodall, 1998).
Other economies such as Thailand, Malaysia and Indonesia were also catching up at a rapid rate (Woodall, 1998). With growth such as this there is
demand for the currency of the countries and as such there is an increase in the currency supply. The scenario was one whish was exacerbated by the domino effect as
one currency fell in value it would have an knock on effect on the next and so on (Labbe, 1998). The economies
in the area were very dependant on foreign trade, and as a result they resorted to a devaluation in order to maintain the inflow of foreign for the export trade
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