What caused the 1997-1998 Asian crisis: Asian nations’ poor economic management, international financial contagion include “cronyism” between local politicians and capitalists? This case is being investigated as the crisis erupted in Thailand and spread in a chain of events that no one, neither Asian financial crisis, authorities had yet Western economists anticipated. The crisis raises the question of how competent financial institutions such as investment funds managed their global investments. It turns que … Read more »

What caused the 1997-1998 Asian crisis: Asian nations’ poor economic management, international financial contagion include “cronyism” between local politicians and capitalists? This case is being investigated as the crisis erupted in Thailand and spread in a chain of events that no one, neither Asian financial crisis, authorities had yet Western economists anticipated. The crisis raises the question of how competent financial institutions such as investment funds managed their global investments. This raises the question of how effectively the IMF reform package was and to what extent the IMF acted in the interests of Wall Street rather than developing countries. And the crisis raises questions about the development policies of the Asian nations have too close “nepotism” relationships between politicians and owners of large banks or companies pave the way for crisis
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from
Huw Pill,
Rafael Di Tella,
Jonathan Schlefer
Source: Harvard Business School
21 pages.
Release Date: 31, October 2008. Prod #: 709004-PDF-ENG
Financial Crisis in Asia: 1997-1998 (Summary) HBR case solution

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