What caused the 1997-98 Asia Crisis: Asian nations' poor economic management, international financial contagion, close "crony" relations between local politicians and capitalists? This case analyzes how the crisis erupted in Thailand and spread in a chain of events that no one-neither Asian monetary authorities nor Western economists-had foreseen. The crisis raises questions about how their global capital investments were managed by competently fiscal institutions such as mutual funds.
It raises questions about how powerful the International Monetary Fund's package of reform was-and to what level the IMF acted in the concern of Wall Street instead of developing countries. And the disaster raises questions about the development policies of Asian nations: Did overly-close "crony" connections between politicians and owners of leading banks or businesses pave the way for crisis?
PUBLICATION DATE: October 31, 2008 PRODUCT #: 709004-HCB-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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