Southeast Asia's economic crisis.
From: Contemporary Review
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Date: 1/1/1998
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Author: Park, Donghyun
The forced devaluation of the Thai baht signalled the start of the economic crisis in Southeast Asia. The economic malaise resulting from the devaluation affected other Southeast Asian countries which had significant current account deficits financed by inflows of foreign capital. The slowdown in exports also contributed to the worsening of the financial crisis. Southeast Asian countries are urged to adopt greater exchange rate flexibility and integrate various economic and financial reforms to ...
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