The Asian Financial Crisis Comparison Essay by Quality Writers

The Asian Financial Crisis
This paper analyzes the Asian financial crisis by comparing the economies of South Korea and Malaysia.
# 102383 | 2,745 words | 6 sources | APA | 2008 | US
Published on Mar 24, 2008 in Economics (International) , History (Asian) , Asian Studies (General)


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Description:

This paper explains that, because investors lost confidence, the Asian financial crisis was not just a domestic problem but rather spread to other parts of the, world especially Third World countries. The author posits that the recovery from the crisis was dependent on the macro economy prior to the crisis within each country. The paper relates that South Korea and Malaysia have different internal structures, were at different levels of development before the crisis and have different survival rates with very different 'after crisis' scenarios. The author points out that the crisis in Malaysia was more of a currency crisis, which had spillover effects within other sectors of the macro economy; however, South Korea faced more of a banking crisis. The paper discuses the role of the International Monetary Fund, the government's role in each region and the Asian Monetary Fund to present a policy outline for preventing future crises.

Table of Contents:
Introduction
A Historical Debate
Asian Financial Crisis: A Closer Look at South Korea and Malaysia
Role of the IMF
Figure 1: Malaysia's and South Korean Unemployment Worsened by IMF Policies
Asian Monetary Fund: Policies and Procedures for Future Crises.
Figure 2: Economic Growth, the Main Aim of the AMF: Implications for Asia

From the Paper:

"There were a lot of issues that caused the financial crisis. Mainly, investors lost confidence in the Asian market and started to remove capital from South Korea and Malaysia. The onset of the loss of confidence by investors began when the economies, such as Mexico had crises that preceded the Asian crisis. Similarly, the United States was increasing interest rates during the period to lower inflation as part of its monetary policy. Investors prefer to invest in the United States versus Asia, since the former is considered less risky."

Sample of Sources Used:

  • Ambrose, Soren. (1998). "IMF Bailouts: Familiar, Failed Medicine for Asian Tigers". Human Rights Information Network 33, 16-25.
  • DeMaret, Luc. (1997). "The Year of Living Dangerously". International Confederation of Free Trade Unions 315, 361-374.
  • Fischer, Stanley. (1998, January 22). "The Asian Crisis: A View from the IMF". International Monetary Fund Conference Series. Washington, D.C.
  • Goldstein, Fred. (1997). "US, IMF Deepen Crisis for Asian Workers". Workers World Series 34, 59-65.
  • McConnell Stanley and Steven Brue Macroeconomics. (2006) New York: McGraw Hill.

Cite this Comparison Essay:

APA Format

The Asian Financial Crisis (2008, March 24) Retrieved December 08, 2021, from https://www.academon.com/comparison-essay/the-asian-financial-crisis-102383/

MLA Format

"The Asian Financial Crisis" 24 March 2008. Web. 08 December. 2021. <https://www.academon.com/comparison-essay/the-asian-financial-crisis-102383/>

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