By Khun Seiha‚ 2012 I. Introduction In Asian country there are many countries which are most powerful economic and some of those countries were named as “The Asian Miracle” and other countries are named as tiger of Asia. As you see over previous decade some countries such as Singapore‚ Thailand‚ Indonesia‚ South Korea‚ and Malaysia were named as the high economic growth in the world. Singapore‘s economic grown highly about 10% in 1990 to 1993 and up to 16% of GDP in 1994 to 1996. In Thailand
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high growth rates‚ 8–12% GDP‚ in the late 1980s and early 1990s. This achievement was widely acclaimed by financial institutions including the IMF and World Bank‚ and was known as part of the "Asian economic miracle". In 1994‚ noted economist Paul Krugman published an article attacking the idea of an "Asian economic miracle".[4] He argued that East Asia’s economic growth had historically been the result of increasing capital investment. However‚ total factor productivity had increased only marginally
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Introduction The financial crisis or bank crashes are not a new phenomenon; it could be impairing and harming the whole economy of certain countries and even affect the world wide economy in short period of time. In recent history‚ the world wide economy has been shock by several financial crisis. This show that the stability of the financial market is weak and the world still hard to prevent it to occur after undergo various financial crises in previous years. Financial crisis rarely happen in the last
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their currency to that of another country to promote economic growth. Fixed exchange rates allow importers and exporters to know exactly what kind of exchange rate they can expect for their transactions. This in turn helps to control inflation and temper interest rates‚ allowing an increase in trade. In addition‚ it’s important for a country’s exports to be greater than their imports to prevent a heavy trade deficit. Several factors help predict whether a country is going to experience a crisis. Recent
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States (US) and the Union of Soviet Socialist Republics (USSR) fought each other in many different battlefronts but never involving actual armed conflict with each other. This war lasted for about half a century and in this essay I shall relate the origins and the early manifestations of this war. The most significant reason for the start of the Cold War was the opposite and conflicting ideologies existing within the two superpowers. Communist USSR held principles that went against the principles of
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Cause of the Asian Financial Crisis of 1997 During Asian Financial Crisis‚ the Thai baht devaluation‚ the Malaysian ringgit was "attacked" by speculators. The overnight rate jumped from under 8% to over 40%. The factors that triggered the 1997 crisis was negative perceptions of the Malaysian economy following the dramatic collapse of the Thai economy. Foreign investors and international rating agencies had failed to consider underlying risks in the Thai economy‚ and spurred by fear that
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COMPARE AND CONTRAST OF ASIAN CURRENCY CRISIS 1997‚ AMERICAN SUB-PRIME FINANCIAL OF 2008 AND EUROPEAN DEBT CRISIS OF 2010 (MACROECONOMICS TERM PAPER) TABLE OF CONTENTS: I. Introduction II. Overview of the ff: A. Asian Financial Crisis 1997 B. American Sub-prime Financial of 2008 C. European Debt-Crisis of 2010 III. Analysis and Solution of the three Crisis IV. Compare & Contrast VI. Conclusion VII. Bibliography I. INTRODUCTION A Crisis is a time of intense
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Reaction Paper Asian and Global Crisis During the Asian and Global Crisis many of the criticisms are against accounting and accountants. In my further readings‚ I’ve read that during the Asian Crisis in 1997‚ where affected countries suffered severe setbacks in their economies and where development stagnated‚ the accountancy profession‚ including its standards‚ policies and levels of information disclosures‚ had played a role in the start of the crisis‚ and perhaps had even worsened it. Moreover
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& Sachs 1998; Glick 1998). Partly because US market was the most important market for exports‚ the ‘export-depended’ ASEAN countries pegged their currencies to the US dollar. This pegged system worked well before 1995 as dollar fell against yen and was weak. However‚ since the second half of 1995‚ dollar began recovering against yen and other currencies. For illustration‚ by mid-1997‚ the value of dollar against yen rose by over 50% and against the German mark rose by 20%. Hence‚ this sharp dollar
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The Monetary Policies of the Asian Financial Crisis and its Ramifications Introduction: At the end of the 1980s and early 1990s‚ the economies of Southeast Asia developed rapidly. Thailand‚ Malaysia‚ Indonesia‚ Singapore and Korea experienced an average annual GDP growth of 12%‚ which was called “the Asian miracle”. Among them‚ Thailand experienced approximately 15% GDP growth‚ and Malaysia experienced almost 20% GDP growth. But this momentum of economic growth did not last long. This rapid development
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