The economies of southeast asia before and after the crisis jose l tongzon on amazoncom free shipping on qualifying offers this timely publication is essential reading for those wanting not only to understand the background to the 1997 98 asian crisis but also to reach conclusions about the sustainability of recovery in southeast asia s economies. Economic growth in east asia before and after the financial crisis robert j barro nber working paper no 8330 issued in june 2001 nber programseconomic fluctuations and growth program in 1997 98 five east asian countries indonesia malaysia south korea the philippines and thailand experienced sharp currency and banking crises. After the crisis economies in the region worked toward financial stability and better financial supervision until 1999 asia attracted almost half of the total capital inflow into developing countries the economies of southeast asia in particular maintained high interest rates attractive to foreign investors looking for a high rate of return . Asian financial crisis major global financial crisis that destabilized the asian economy and then the world economy at the end of the 1990s though it is generally characterized as a financial crisis or economic crisis it can also be seen as a crisis of governance at all major levels of politics. The asian financial crisis of 1997 affected many asian countries including south korea thailand malaysia indonesia singapore and the philippinesafter posting some of the most impressive growth rates in the world at the time the so called tiger economies saw their stock markets and currencies lose about 70 of their value
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