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

See all articles by F. Gerard Adams

F. Gerard Adams

Northeastern University - D’Amore-McKim School of Business

Heidi Vernon

Northeastern University - General Management Area

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

Adams, F. and Vernon, Heidi, The Impact of the East Asian Crisis on Thai Firms: A Micro Survey Study (December 1, 1998). Northeastern University Working Paper Adams 98/1, Available at SSRN: https://ssrn.com/abstract=143490

F. Adams (Contact Author)

Northeastern University - D’Amore-McKim School of Business ( email )

39 Stafford Rd.
Boston, MA 02115
617-373-2764 (Phone)
617-373-8798 (Fax)

Heidi Vernon

Northeastern University - General Management Area ( email )

Boston, MA 02115

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