Receive emails when we post new items of interest to you. Subscribe or Modify your profile. Box 1. Asian and Tequila Crises I. Introduction The financial crises that erupted in Asia beginning in mid are now behind us and the economies are recovering strongly. This rebound did not happen spontaneously, but came about as a result of steadfast policy implementation by the affected countries and large-scale financial support from the international community, especially under IMF-supported programs for Indonesia, Korea, and Thailand.
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E-mail address: wxue fiu. Use the link below to share a full-text version of this article with your friends and colleagues. Learn more. This paper explores whether Bernanke's findings can be applied to the recovery from the East Asian financial crisis of —
But when Thailand devalued its currency a decade ago, on July 2, — causing a financial crisis that engulfed nearly the entire region — Mr. Today, he has recovered somewhat, but he controls only the cement division and has not built a new factory in the last 10 years. His experience speaks volumes about what has happened here since the Asian financial crisis, which raised alarms around the world and was probably the most damaging detour along the road to economic globalization of the post-cold war era.