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The Asian Economic Crisis, 2005.
Examines and analyzes the Asian economic and currency crisis that rocked the Asian markets in 1997.
2,468 words (approx. 9.9 pages), 7 sources, APA, $ 75.95
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Abstract
This paper explores the causes of the Asian economic crisis in 1997 and traces the roots of the crisis back to the area?s economic growth that started in the early 1990s. The paper explains that, while the crisis is believed to have begun in Thailand, conditions that existed throughout the region contributed to the destabilization of the economies of the other Southeast Asian countries as well.
From the Paper
"Throughout the early 1990s, growth in southeast Asia attracted much foreign capital. However, by 1995 and 1996, Thailand?s current account deficit had grown (from 5.7% in ?93 to 8.5% in ?96 [Pesenti et al., 1998]). When domestic production slowed, this account imbalance represented an even greater percentage, when compared to GDP. Much of the instability in Thailand?s economy was brought about by heavy short-term borrowing that required stringent debt maintenance. A boom in real estate and the Thai stock market attracted foreign speculation that could not be sustained in the face of investor doubts. The Thai government attempted to shore up shaky investor confidence by officially backing the financial institutions that were heavily indebted abroad."
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The Problems of Project Finance in American Business after the Asian Economic Crisis of 1998, 2000.
A look at the efforts made to recover from the financial crisis.
3,400 words (approx. 13.6 pages), 10 sources, $ 96.95
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Abstract
The Future of Project Finance
After taking a battering from spectacular failures due to the Asian economic crisis impact on emerging nations and markets worldwide, project finance is making a cautious, conservative rebound. Private and institutional investors are taking an increasing part in financing domestic and international major infrastructure, power and utility projects through innovative funding structures.
From the paper:
"Limited recourse loans are a well-defined form of borrowing; any transaction that does not include elements unique to this structure does not strictly qualify as project finance. Limited recourse loans were invented in the late 1920s and early 1930s to provide US wildcatters with longer-term production finance. During the 1930s, drilling became deeper and resultant cost higher; more extended financing terms were needed. The improved engineering techniques of the early 1940s provided the ability to forecast the future recovery of oil reserves, and some banks applied these new techniques to justify production loans in excess of the three years? limited term previously applied. Since the project itself was deemed able to support a level of production that would provide for repayment from the project?s cash flow, the creditworthiness of the borrower was irrelevant."
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East Asian Economic Caucus, 1999.
Examines feasibility of proposal to establish EAEC, likely characteristics, effects, goals and functions as compared to two existing Asian economic groups.
3,375 words (approx. 13.5 pages), 22 sources, $ 119.95
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From the Paper
"THE EAST ASIAN ECONOMIC CAUCUS
Introduction
This research examines the proposal to establish an East Asian Economic Caucus (EAEC). Both the prospects for the formation of the EAEC and the probable effects of the creation of the EAEC are considered. The likely characteristics and functioning of an EAEC also are compared with the characteristics and functioning of both the Association of South East Asian Nations (ASEAN) and the Asia Pacific Economic Cooperation (APEC) Forum.
The EAEC Proposal
The concept of the EAEC was first proposed as a regional consultative forum in 1990 by the Malaysian Prime Minister (East Asian Economic Caucus, 1998). At that time the proposed name of the association.."
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East Asian Financial Crisis, 2007.
This paper examines the role of the IMF (International Monetary Fund) in South Korea during the East Asian economic crisis.
3,649 words (approx. 14.6 pages), 10 sources, MLA, $ 101.95
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Abstract
The paper discusses the 1997 East Asian financial crisis, also termed the IMF crisis locally within the region, that saw the downturn of many East Asian and Southeast Asian economies. The paper explains that the International Monetary Fund (IMF) received much of the blame due to its handling of the crisis. The paper focuses on the IMF efforts in South Korea and reveals that the IMF today is moving toward a less restrictive and more realistic system.
Outline:
Introduction
The East Asian Economic Crisis
South Korea
Conclusion
From the Paper
"The South Korean Central Bank was forced to expand its open market operations (OMO) in order to attempt to stabilize its currency. By elevating the amount of OMO in terms of their own securities, Central Banks attempt to control extreme devaluation in times of stress or manage exchange rates in a more stable fashion (Guille 57). For South Korea, contracting the amount of currency through sales of securities was extremely important in controlling the free-fall of the Won during the extent of the crisis."
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The Financial Crisis in East Asian Economies, 2006.
An analysis of the East Asian financial crisis of 1997-1998 and whether the crisis is really over.
1,800 words (approx. 7.2 pages), 3 sources, $ 71.95
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Abstract
This paper discusses the East Asian financial crisis of 1997-1998 and how it represented not only a shock to the regional economies of East Asia but, in a larger context, a blow to the confidence of global financial markets in the fundamental structural soundness of East Asian economies. The paper points out that the East Asian economies that were at the center of the crisis - in particular, Thailand and South Korea - were also among those being most highly praised for their market liberalization and fiscal prudence during the regional economic boom of the 1990s. This, in particular, represented troubling concerns for the global economic community in terms of the validity and trustworthiness of assessments of East Asian economies. With this in mind, this paper considers whether it is safe to assume that the crisis is truly over.
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East Asian Financial Crisis: Over or In Hibernation, 2008.
An analysis of the East Asian financial crisis.
2,181 words (approx. 8.7 pages), 12 sources, MLA, $ 68.95
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Abstract
The East Asian financial crisis was an important developmental economic event in that region. This paper attempts to put that financial crisis in perspective. The paper examines the speculation on whether the region still might suffer from or be prone to the effects of such a financial crisis. The paper also explains that the East Asian financial crisis can best be characterized as a currency crisis.
Outline:
I. Introduction
Motivation
Problem Definition
Goals and Objectives
Significance of Study
Summary of Results
II. Literature Review
Relative to Prior Research
Relevant Literature
Theory and Methodology
III. Methodology
Relation to Previous and Present Literature
Hypothesis Formulation
Advantages and Limitations
Plan of Analysis
IV. Data Collection and Analysis
Results and Explanations
Achievement of Goals and Objectives
V. Implications and Policy Recommendations
Implications
Policy Recommendations
From the Paper
"The 1997 East Asian financial crisis, also known as the IMF crisis, caused the contraction of many formerly robust East Asian and Southeast Asian countries. The crisis began in Thailand and quickly spread throughout the region with sudden devaluation of currencies, stock markets and various other economic structures (Li). One unique characteristic of the East Asian financial crisis was not that it occurred but that it spread like a pandemic from one economy to the other in the region. The problem examined here is whether these conditions or characteristics that led to the financial crisis in the region persist in any real sense."
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Thailand and the East Asian Financial Crisis, 2003.
An analysis of the economy of Thailand as part of the wider East Asian economy.
3,110 words (approx. 12.4 pages), 15 sources, MLA, $ 90.95
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Abstract
The essay examines the conditions in Thailand that led to effective devaluation of the Thai Baht in July of 1997 and the reasons for the ?contagion? that affected other East Asian economies. The paper also includes a survey of the reforms undertaken by the Thai Government since the crisis.
Contents:
Introduction
Economic Growth before the Crisis
Macroeconomic Policy Mix before the Crisis
Financial Sector before the Crisis
Regulatory Weaknesses before the Crisis
Reasons for Contagion in Other Countries
Survey of Reforms
Conclusion
From the Paper
"The countries of East Asia have long been called the ?Asian Tigers? due to growth rates averaging 8 per cent annually over the past two decades; large rises in per capita income, high domestic savings, low budget deficits and low inflation. However, it appears that the very success of high economic growth of these countries led foreign investors to underestimate the underlying economic weaknesses as the East Asian Financial crisis unfolded."
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The South East Asian Currency Crisis, 2002.
This study probes at the causes and likely consequences of the ongoing Southeast Asian crisis that began in the second quarter of 1997.
1,775 words (approx. 7.1 pages), 5 sources, $ 66.95
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Abstract
Though the situation is still unfolding and surely will continue to for many years to come it can confidently be said that this is the worst economic crisis the world has experienced since the Great Depression of the 1930s. Until very recently, most analysts had confined the crisis to Indonesia, South Korea, Malaysia, and Thailand. Some obdurate analysts even continue to suggest that the Asian 'miracle' is still far from over! These, and many other predictions that the crisis would result in only a short, sharp downturn with almost no impact on the major capitalist countries, have all proved to be wrong. Severe economic crisis in Japan along with economic slowdown in China, currency lows in Canada, South Africa, Mexico and many other countries, and the finale of the stumbling American economy, do clearly suggest that the crisis is endemic to the entire global system. This is an ugly and painful realization, but it is indeed reality. Not only does it seem that the Asian miracle is surely over, but that the burgeoning global economy is headed for a drastic slowdown.
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East Asian Economic Crisis, 1999.
Analyzes the causes and effects of the monetary crisis of 1997-1998. Examines the impact on Europe, politics, stock market, bailout plans and banking.
1,350 words (approx. 5.4 pages), 10 sources, $ 47.95
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Abstract
The financial turmoil in East Asia has affected markets in different parts of the world and has had a particularly devastating effect on the countries of East Asia itself. Since the beginning of this year, the stock markets of Asia have collectively lost $400 billion in value, and the losses in Hong Kong in mid-October created concern around the world and affected other stock markets, including that in the U.S., which lost a large percentage of its value in one day. The effect on Europe has been more as a threat on the one hand and an opportunity on the other. While the monetary collapse affected markets around the world, the primary effect on Europe has come from changed relations with the financial markets in East Asia.
From the Paper
"The financial turmoil in East Asia has affected markets in different parts of the world and has had a particularly devastating effect on the countries of East Asia itself. Since the beginning of this year, the stock markets of Asia have collectively lost $400 billion in value, and the losses in Hong Kong in mid-October created concern around the world and affected other stock markets, including that in the U.S., which lost a large percentage of its value in one day. The effect on Europe has been more as a threat on the one hand and an opportunity on the other. While the monetary collapse affected markets around the world, the primary effect on Europe has come from changed relations with the financial markets in East Asia.
The failure of the monetary system has been blamed on the political systems in East Asia as much as on any economic ..."
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East Asian Economic Crisis, 1999.
Examines causes and effects, currency, investment, role of IMF, competition, history and recommendations for the future. Includes table.
2,925 words (approx. 11.7 pages), 11 sources, $ 103.95
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Abstract
In 1997 East Asia's financial markets collapsed causing economic ramifications that just might reverberate throughout the international community for years.
From the Paper
"In 1997 East Asia's financial markets collapsed causing economic ramifications that just might reverberate throughout the international community for years. The crisis in East Asia has been briefly but well summarized by Lester Thurow, professor of economics at the Massachusetts Institute of Technology (MIT), in terms of short-run opportunities to make a lot of money overwhelming time worn economic realities (Thurow, 1998, 22). The situation is analogous to a barber's chair. It slowly gets pumped up ever higher, then with a push of a pedal the pressure is released. The chair falls until it returns to the floor.
The symptoms of the 'Asian flu' could just as easily be called the consequences of bad banking. They include a collapse in asset prices (particularly land, because rent is a reflection..."
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The World Bank?s Report on ?The East Asian Miracle?, 2001.
This paper summarizes the various views taken by the World Bank on Asian economic development before the crisis, and how the effects of the Asian crisis threw the Bank's judgement.into doubt.
1,995 words (approx. 8.0 pages), 4 sources, APA, $ 63.95
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Abstract
This paper examines reasons for the East Asian economic crisis during 1997 and 1998. The World Bank report of 1993 praises many of the practices that ultimately led to the crisis. Currencies, stock markets, 'crony capitalism' and financiers are examined. The paper argues that both economic and cultural reasons are ultimately to blame for the economic crisis.
From the Paper
"In recent decades international financial institutions, most notably the World Bank, have held up East Asia as a capitalist miracle, a role model for the rest of the world to follow. The Newly Industrialising Countries (NIC's) took off during the 1970's and included countries from around the world. But is was almost exclusively the NIC's of Asia who maintained their high growth rates through the 1980's and 1990's. While the South American NIC's were left behind in the debt crisis of the early 1980's, the Asian 'Tigers' continued to surge ahead. South Korea, for example, maintained a manufacturing growth rate of nearly 9% a year during the 1980's, while exports grew by 10% a year (Hadjor: 1992). Taiwan, Hong Kong and Singapore also enjoyed such success, and they were soon joined by other Asian countries such as Malaysia and Thailand. By 1987 the combined manufacturing exports of South Korea, Taiwan, Hong Kong and Singapore totalled about half of all third world exports compared with 6% for Mexico and Brazil combined (ibid). The World Bank firmly believed that the experience of the Asian tigers constituted a viable model for other Third World countries. In 1993, the Bank published its seminal work 'The East Asian Miracle' as a guide to how the Tigers had been so successful. But disaster hit the East Asian region in 1997/98 when the economies in that part of the world took a massive beating from what became the 'Asian Crisis'. Suddenly the World Bank report and hopes for the region looked decidedly inaccurate. Here we will summarise the various views taken by the World Bank on Asian economic development before the crisis hit, together with how the effects of the Asian Crisis threw into doubt the Banks judgement."
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Thailand's Economic Crisis, 2005.
This paper discusses Thailand's economic recovery.
1,840 words (approx. 7.4 pages), 5 sources, $ 63.95
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Abstract
This paper explains Thailand and its recovery from the 1990s Asian financial crisis. The author presents the situation arising from the Thai government's decision to float the bhat. The paper stresses the relationship between economics and national security.
From the Paper
"On July ..., Thailand experienced an economic shock that impacted a number of distant countries. As Gerald Fry put it, "The decision by the Thai government to float the Thai baht caused a free-fall in the value ...""
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Asian Economic Development, 2002.
The following paper examines why economists predict that although the crisis in East and Southeast Asia has slowed the rate of development, it is not likely to change the ultimate direction of market evolution.
2,120 words (approx. 8.5 pages), 6 sources, APA, $ 66.95
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Abstract
This paper discusses the current state of Asian economic development; the principles upon which Asian economic recovery depends, and then compares and contrasts several countries, notably China and Japan, in view of their attitudes, development and potential for economic dominance in the region.
From the Paper
"In 1997, Thailand floated the baht, marking the beginning of a currency crisis that would eventually spread to other parts of Asia and to emerging markets such as Brazil and Russia. In Asia, the outflow of investment was massive. The five hardest hit economies -- South Korea, Indonesia, Malaysia, Thailand and the Philippines -- saw net capital flows reverse by more than $100 billion in a year. All over Asia, companies went bankrupt, banks loans soured and the number of property repossessions skyrocketed and millions of people lost their jobs. The situation, named the "Asian flu" quickly became the focal point of numerous conferences, editorials and a small library of books as economists and academics debated the causes and the cures."
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East Asian Newly Industrialized Countries, 2002.
Outlines the economic growth of East Asian newly industrialized countries and discusses the effects of globalization on these countries.
2,400 words (approx. 9.6 pages), 11 sources, $ 89.95
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Abstract
This paper begins by briefly outlining the astronomical pace of economic growth in the East Asian NICs. It then explores the course of development's relationship to development theory. It asserts that the neo-liberal link between economic development and democracy and greater equality is dismissed by the experience of the NICs. However, the dependency/world system approach, currently expressed in globalization, is affirmed by the recent history of the East Asian NICs and the present situation.
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Asian Economic Integration, 1999.
Examines definition, purposes, goals, ASEAN model, economic theory, problems and recommendations.
1,575 words (approx. 6.3 pages), 6 sources, $ 55.95
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Abstract
Examines definition, purposes, goals, ASEAN model, economic theory, problems and recommendations.
From the Paper
"ASIAN ECONOMIC INTEGRATION
There are many conceptual definitions of "economic integration" and the one chosen for this paper is that economic integration occurs when nationalistic concerns of an economy are set aside to integrate the economy more fully into the world economy.
Such a definition implies and confirms that the world has become so global that individual nations can no longer be allowed to maintain independent economic activities without consideration of the impact of those activities on other nations. This attitude was well expressed by Thai Deputy Foreign Minister Sukhumbhand Paribatra at a recent meeting of the annual East Asia Economic Summit: "East Asia and Southeast Asia must reject the temptation to seek individual salvation, because none of us can ..."
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