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Restructuring and Forgiveness in Financial Crises B: The Asian Crisis of 1997

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Abstract

Asia's economy, Thailand in particular, was booming when the financial crises hit in the 1990s. However, troubles were brewing underneath the seemingly buoyant economy. With a fragile financial system and ineffective domestic government responses to these troubles, an exchange rate crisis took over Thailand, and this crisis started a financial contagion in the neighboring countries. This case reviews the background and domestic government responses to contain the crisis, and the international intervention provided by the International Monetary Fund including the assistance and the required reforms accompanying the support.

Suggested Citation

  • Metrick, Andrew, 2020. "Restructuring and Forgiveness in Financial Crises B: The Asian Crisis of 1997," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 2(1), pages 96-105, April.
    • Handle: RePEc:ysm:ypfsfc:2177
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    File URL: https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1053&context=journal-of-financial-crises
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    More about this item

    Keywords

    Restructuring; Asian Financial Crisis; International Monetary Fund; Financial Institution Development Fund; Thailand;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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