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  • February 2008 (Revised April 2009)
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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
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Rafael M. Di Tella

Business, Government and the International Economy
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More from the Authors

    • 2022
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    Distributional Consequences of Monetary Policy Across Races: Evidence from the U.S. Credit Register

    By: Laura Alfaro, Ester Faia and Camelia Minoiu
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    El Salvador: Launching Bitcoin as Legal Tender

    By: Laura Alfaro, Carla Larangeira and Ruth Costas
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    Can Evidence-Based Information Shift Preferences Towards Trade Policy?

    By: Laura Alfaro, Maggie X. Chen and Davin Chor
More from the Authors
  • Distributional Consequences of Monetary Policy Across Races: Evidence from the U.S. Credit Register By: Laura Alfaro, Ester Faia and Camelia Minoiu
  • El Salvador: Launching Bitcoin as Legal Tender By: Laura Alfaro, Carla Larangeira and Ruth Costas
  • Can Evidence-Based Information Shift Preferences Towards Trade Policy? By: Laura Alfaro, Maggie X. Chen and Davin Chor
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