Publications
Publications
- February 2008 (Revised April 2009)
- HBS Case Collection
Chronology of the Asian Financial Crisis
By: Laura Alfaro, Rafael Di Tella and Renee Kim
Abstract
In July 1997, Thailand became the first Asian "tiger" economy to abandon its fixed exchange rate system in response to speculative attacks on its currency. Investors started to flee Asia, and the crisis rapidly spread to other countries. Central banks spent billions of dollars to try and defend their currencies, only to seek emergency bailouts from the International Monetary Fund. This case presents a chronology of events that unraveled during the Asian financial crisis from 1997 to the end of 1998.
Keywords
Financial Crisis; Currency Exchange Rate; Central Banking; Policy; Crisis Management; Asia; Thailand
Citation
Alfaro, Laura, Rafael Di Tella, and Renee Kim. "Chronology of the Asian Financial Crisis." Harvard Business School Case 708-001, February 2008. (Revised April 2009.)