Asia’s economy, Thailand in particular, was booming when the financial crises hit in the 1990s. However, troubles were brewing underneath the seemingly buoyant economy. With a fragile financial system and ineffective domestic government responses to these troubles, an exchange rate crisis took over Thailand, and this crisis started a financial contagion in the neighboring countries. This case reviews the background and domestic government responses to contain the crisis, and the international intervention provided by the International Monetary Fund including
the assistance and the required reforms accompanying the support.
June Rhee and Andrew Metrick, Lessons from the Emerging Markets Crises of the 1990s 2-Asia, Yale Program on Financial Stability Case Study 2015-4B-V1, July 15, 2015.
- Financial Regulation