Sreenadh: Hi Sir, Tell sth about The East Asian financial crisis and what caused it?
In the wake of the rising rupee and a weakening dollar, there appears to be renewed interest in the East Asian Financial crisis that happened nearly a decade ago and what lessons the world could have learned from it. Because the subject is quite complex, I prefer to write in a two parts. Here we go with the first part.
What I write below is heavily borrowed from, as usual, Wikipedia. To this I add, where appropriate some other material from other sources and at times my opinion. Those of you, who have got the patience and time, are strongly recommended to reading this:
The East Asian Financial Crisis was a period of economic unrest that started in July 1997 in
What exactly was this economic unrest? And how did it affect the various markets?
As stated before, there is no real consensus on what caused the crisis. Economists differed on this variedly.
Tomorrow, we will look at the consequences of this crisis both in