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Financial Market Contagion in the Asian Crisis Taimur Baig

Financial Market Contagion in the Asian Crisis

Taimur Baig

Published November 1st 1998
ISBN : 9786613800886
ebook
120 pages
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 About the Book 

Following the collapse of the Thai bahts peg on July 2, 1997, the financial markets of East and South-East Asia - in particular Thailand, Malaysia, Indonesia, the Philippines, and Korea- headed in a similar, downward direction during late 1997 andMoreFollowing the collapse of the Thai bahts peg on July 2, 1997, the financial markets of East and South-East Asia - in particular Thailand, Malaysia, Indonesia, the Philippines, and Korea- headed in a similar, downward direction during late 1997 and early 1998. The regional markets faced increasing pressure in the aftermath of the devaluation of the baht, and this pressure was reflected in the subsequent unraveling of the managed currencies in Malaysia and Indonesia. As the crises became full-blown, intense foreign exchange and stock market turmoil spread in the entire region, culminating in the collapse of the Korean won. News of economic and political distress, particularly bank and corporate fragility, became commonplace in the affected countries, and it appeared as though anything that brought one market down put additional pressure on the other markets as well.