The Impact of the East Asian Crisis on Thai Firms: A Micro Survey Study
Northeastern University Working Paper Adams 98/1
Posted: 7 Apr 1999
Date Written: December 1, 1998
Abstract
The East Asian crisis has been the subject of much debate. We remain uncertain whether to see the crisis as a financial panic or as a business cycle phenomenon. This paper, based on a survey of business managers in Thailand, looks at the micro aspects of the crisis: its impact on business firms and their reactions. The survey shows a violent swing from optimism to pessimism. Cutbacks in sales have affected inventories, investment, and employment as in a business cycle. While business people remain moderately optimistic about the future, few of them have worked out a clear strategy.
JEL Classification: E2, F4, O5
Suggested Citation: Suggested Citation