Restructuring and Forgiveness in Financial Crises B: Lessons from the Emerging Markets Crises of the 1990s 2-Asia

Yale Program on Financial Stability Case Study 2015-4B-V1

11 Pages Posted: 11 Feb 2017

See all articles by June Rhee

June Rhee

Yale University - Yale Program on Financial Stability; Harvard Law School; Yale University - Yale Program on Financial Stability

Andrew Metrick

Yale School of Management; National Bureau of Economic Research (NBER); Yale University - Yale Program on Financial Stability

Date Written: July 15, 2015

Abstract

Asia’s economy, Thailand in particular, was booming when the financial crises hit in the 1990s. However, troubles were brewing underneath the seemingly buoyant economy. With a fragile financial system and ineffective domestic government responses to these troubles, an exchange rate crisis took over Thailand, and this crisis started a financial contagion in the neighboring countries. This case reviews the background and domestic government responses to contain the crisis, and the international intervention provided by the International Monetary Fund including the assistance and the required reforms accompanying the support.

Keywords: Asian Financial Crises, Emerging Market, Thailand

JEL Classification: G01, G15

Suggested Citation

Rhee, June and Metrick, Andrew, Restructuring and Forgiveness in Financial Crises B: Lessons from the Emerging Markets Crises of the 1990s 2-Asia (July 15, 2015). Yale Program on Financial Stability Case Study 2015-4B-V1, Available at SSRN: https://ssrn.com/abstract=2723480 or http://dx.doi.org/10.2139/ssrn.2723480

June Rhee (Contact Author)

Yale University - Yale Program on Financial Stability ( email )

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Yale University - Yale Program on Financial Stability

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Andrew Metrick

Yale School of Management ( email )

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HOME PAGE: http://faculty.som.yale.edu/andrewmetrick/

National Bureau of Economic Research (NBER) ( email )

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Yale University - Yale Program on Financial Stability

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