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1997 Asian financial crisis

The Star Malaysia repost. Archived from the original on 13 June The rapidity with which the crisis happened has prompted Sachs and others to compare it to a classic bank run prompted by a sudden risk shock.

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Insolvent institutions had to be closed, and insolvency itself had to asian crisis ppt clearly defined. Only Singapore and Taiwan proved relatively insulated from the shock, but both suffered serious hits in passing, the former due to its size and geographical location between Malaysia and Indonesia. The Philippine GDP contracted by 0. A large number of PLCs were unable to regulate their financial affairs and were delisted.

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