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  • February 2008 (Revised April 2009)
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Chronology of the Asian Financial Crisis

By: Laura Alfaro, Rafael Di Tella and Renee Kim
  • Format:Print
  • | Pages:15
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Abstract

In July 1997, Thailand became the first Asian "tiger" economy to abandon its fixed exchange rate system in response to speculative attacks on its currency. Investors started to flee Asia, and the crisis rapidly spread to other countries. Central banks spent billions of dollars to try and defend their currencies, only to seek emergency bailouts from the International Monetary Fund. This case presents a chronology of events that unraveled during the Asian financial crisis from 1997 to the end of 1998.

Keywords

Financial Crisis; Currency Exchange Rate; Central Banking; Policy; Crisis Management; Asia; Thailand

Citation

Alfaro, Laura, Rafael Di Tella, and Renee Kim. "Chronology of the Asian Financial Crisis." Harvard Business School Case 708-001, February 2008. (Revised April 2009.)
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About The Authors

Laura Alfaro

General Management
→More Publications

Rafael M. Di Tella

Business, Government and the International Economy
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More from the Authors

    • 2022
    • Faculty Research

    Distributional Consequences of Monetary Policy Across Races: Evidence from the U.S. Credit Register

    By: Laura Alfaro, Ester Faia and Camelia Minoiu
    • AEA Papers and Proceedings

    Undisclosed Debt Sustainability

    By: Laura Alfaro and Fabio Kanczuk
    • 2022
    • Faculty Research

    Causal Inference During A Pandemic: Evidence on the Effectiveness of Nebulized Ibuprofen as an Unproven Treatment for COVID-19 in Argentina

    By: Sebastian Calonico, Rafael Di Tella and Juan Cruz Lopez Del Valle
More from the Authors
  • Distributional Consequences of Monetary Policy Across Races: Evidence from the U.S. Credit Register By: Laura Alfaro, Ester Faia and Camelia Minoiu
  • Undisclosed Debt Sustainability By: Laura Alfaro and Fabio Kanczuk
  • Causal Inference During A Pandemic: Evidence on the Effectiveness of Nebulized Ibuprofen as an Unproven Treatment for COVID-19 in Argentina By: Sebastian Calonico, Rafael Di Tella and Juan Cruz Lopez Del Valle
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