East Asian Financial Crisis

Articles | Research and Analysis | Links and Related Organizations

Overview

East Asian Financial Crisis Overview

The East Asian Financial Crisis began in the summer of 1997 with the collapse of Thailand's currency, the baht. After extensive efforts to prop up the bhat, the Thai government was forced to allow it to float, leading to a rapid devaluation of the currency in relation to the dollar. The crisis quickly spread to other economies in the region, affecting currencies, stock markets and prices in throughout East Asia. Indonesia, South Korea and Thailand were most deeply affected by the crisis, but Mainland China emerged relatively unscathed. By 1999, there were signs of recovery.

Articles

Annotated list of web-based articles from a variety of sources
An annotated list of web-based resources on the crisis, from the University of Redmond in California.
World Bank Publication: East Asia 10 Years after the Financial Crisis
This book, East Asia 10 Years after the Financial Crisis, published by the World Bank Group, looks at how the region has changed in the decade since 1997.
All Fall Down: Ten Years After The Asian Financial Crisis
A contrarian view of the impact of the financial crisis ten years later, by professor Walden Bello.

Research and Analysis

Congressional Research Service's report on the crisis
The CRS provides an indepth review of the causes and consequences of the crisis.

Links and Related Organizations

Wikipedia's Overview of the Asian Financial Crisis
The free open-source online encylopedia reviews the crisis in detail.
The IMF's Response to the Asian Crisis
In 1999, the IMF describes its immediate and short-term role in and responses to the crisis.