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  • February 2008 (Revised April 2009)
  • Case
  • HBS Case Collection

Chronology of the Asian Financial Crisis

By: Laura Alfaro, Rafael Di Tella and Renee Kim
  • Format:Print
  • | Pages:15
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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.)
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About The Authors

Laura Alfaro

General Management
→More Publications

Rafael M. Di Tella

Business, Government and the International Economy
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More from the Authors

    • February 2023
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    The Trouble with TCE

    By: Vincent Pons and Rafael Di Tella
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    Doing Business in Boston, Massachusetts

    By: Laura Alfaro, Leonard A. Schlesinger and Zeke Gillman
    • September 2022
    • Management Science

    Health Externalities and Policy: The Role of Social Preferences

    By: Laura Alfaro, Ester Faia, Nora Lamersdorf and Farzad Saidi
More from the Authors
  • The Trouble with TCE By: Vincent Pons and Rafael Di Tella
  • Doing Business in Boston, Massachusetts By: Laura Alfaro, Leonard A. Schlesinger and Zeke Gillman
  • Health Externalities and Policy: The Role of Social Preferences By: Laura Alfaro, Ester Faia, Nora Lamersdorf and Farzad Saidi
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