Asian financial crisiseconomic crisisHousing is a major sector of the Korean economy. Housing comprises 72% of the nations' total wealth and 83% of household assets as of 2007, and housing investment has accounted for over 5% of the gross domestic product (GDP) since 1970. This chapter ...
The Asian Financial Crisis is a crisis caused by the collapse of the currency exchange rate and hot money bubble. It started in Thailand in July 1997 and swept over East and Southeast Asia. The financial crisis heavily damaged currency values,stock markets, and other asset prices in many East...
References: Marshal, J.C (1997). The role and function of IMF in Asian financial crisis. Sonh, I. Asian financial corporation: The problem of global legitimacy in global finance government. Global Government 11 (2005), 487-504. Woo, W.T. (1998). Lesson From Asian Financial Crisis, and...
Summary and conclusions The paper looks at how the co-movement of seven countries’ stock markets has changed over the periods before, during and after the Asian financial crisis. To see this, we conducted correlation coefficients tests, co-integration tests, and Granger causality tests. The main...
financial one as speculation caused funds to drain out of Thai and Korean currencies and stock markets. The crisis eventually caused economic growth rates to collapse in several South East Asian countries. Even before the summer of 1997, there had been doubts about the sustainability of certain ...
In mid 1997, a financial crisis gripped most of the Asian countries and raised fears of a worldwide economic meltdown due to a financial contagion, a scenario that initially affects only a particular region of the economy that spreads to other countries whose economies were healthy, much like ...
Before theAsian Financial Crisis of 1997, the rise of the economies of the Four Asian Tiger nations (known as the Asian Miracle) was due to export-oriented policies and strict development policies. The economies were unique in terms of continued economic growth and high levels of fair income ...
Summary Excerpt Details After a period of economic upturn in the beginning of the 1990s, Asia has been concussed by a severe fiscal crisis in 1997. As the name implies the Asian Financial Crisis happened in Asia, more precisely in the Eastern Pacific Part of Asia (see Appendix A). ...
We discuss corporate governance reforms in the Korean banking sector, which include reforms in board composition and executive compensation, implemented after the Asian financial crisis in 1997 and examine the stock market's response to the reforms. We find that the banking returns and volatilities be...
The South East Asian financial crisis was a period of financial crisis that gripped much of Asia beginning in July 1997, and raised fears of a worldwide economic meltdown due to financial contagion. The crisis started in Thailand with the financial collapse of the Thai Baht caused by the deci...