The Asian Financial Crisis Of 1997 - 1028 Words

Following the Asian financial crisis of 1997, the IMF bailout provided desperately needed funds to revive South Korea s economy but came with a caveat of strict mandates. The aftermath left sectors of its economy eviscerated, patches of its society dissolved, and sent my family on a plane to the United States. What could have been an otherwise typical American dream narrative for me, however, evolved into a lifelong aspiration toward global affairs. Reaching for a graduate study program is the next appropriate step in realizing my passion. Through what seemed like a disruptive displacement, I adopted the unique identity of a 1.5 generation Korean immigrant; registered the importance of cultural diversity; recognized the glaring differences and subtle nuances in human behaviors, social norms, and historical traditions more organically. Naturally, analyzing the problems in a multifaceted fashion became my biggest forte. After a search of what can best capitalize my skills, I arrived at an undergraduate major in international studies. Taking courses such as Political Economy of East Asia and Global Issues and Institutions helped me understand the circumstances of how I became an economic migrant and how extensive the reach of international monetary policy can be. A field which delves into a complex state of global affairs dovetailed my penchant in exploring an unparalleled gamut of issues and developed the analytic ability. Most of all, this learning process instilled myShow MoreRelated1997 Asian Financial Crisis and Hyundai Motor Corp7129 Words   |  29 PagesOutlook: 16 Asian Financial Crisis: Summary: 17 Recovery: 18 Hyundai Motor Corp Financial Analysis: Introduction: 20 Detailed Financial Analysis: 21 Equity Valuation: 24 Conclusion: 24 Case Solution: Project Valuation: 25 Input Descriptions: 25 Conclusion: 27 Exhibits: Hyundai Motor Corp Financial Statements Read MoreImpact Of The Asian Financial Crisis Of 1997 On The Region s Development1704 Words   |  7 PagesExamine the impact of the Asian Financial Crisis of 1997 on the region’s development â€Å"Since World war II, development has been the most important term used to describe economic, social and political changes in what have come to be known as Third world countries† (Zhang, 2003). The Asian financial crisis of 1997 had a major impact on the regions development as it was the end of the East Asian economic miracle, a time that showed staggering economic growth throughout the Asia Pacific. HoweverRead MoreImpact of the Asian Financial Crisis in 1997 and Effect to Latin America1875 Words   |  8 PagesImpact of the Asian Financial Crisis in 1997 and effect to Latin America Name: Institution: Date: Abstract In 1997, the Asian Financial Crisis spread rapidly all over the Asia and affected almost all the economies in the world. Prior to the Asian Financial Crisis, the Asian countries such as Thailand, Malaysia, South Korea, Indonesia, Hong Kong and Singapore experienced a remarkable growth in the economy that was considered the highest in the world. These Asian economies increased by a notableRead More1997 Asian Financial Crisis4291 Words   |  18 Pages1997 Asian Financial Crisis Angelica M. Montefalcon 4FM2 I. Introduction For about twenty years, East-Asian countries were held up as economic idols. They were hailed as the ideal models for strong economic growth of developing countries because of their high savings and investment rates, autocratic political systems, export-oriented business, restricted domestic markets, government capital allocation, and controlled financial systems. They were even stories about â€Å"The East AsianRead More1997 Asian Financial Crisis4297 Words   |  18 Pages1997 Asian Financial Crisis Angelica M. Montefalcon 4FM2 I. Introduction For about twenty years, East-Asian countries were held up as economic idols. They were hailed as the ideal models for strong economic growth of developing countries because of their high savings and investment rates, autocratic political systems, export-oriented business, restricted domestic markets, government capital allocation, and controlled financial systems. They were even stories about â€Å"The East Asian MiracleRead MoreThe Asian Financial Crisis Of 19972364 Words   |  10 Pagesthe â€Å"Asian Contagion† the East Asian financial crisis of 1997 marked a time in which multiple Asian countries fell into a recession as a result of financialization. Although the East Asian financial crisis affected over ten countries, Thailand’s economy is will first be primarily analyzed prior to the crash because it was the first economy to fall and essentially started the crisis. In retrospect, the complexity of the financial crisis has caused much debate on what actually started the crisis inRead MoreEffects of the Asian Financial Crisis on 19971006 Words   |  4 PagesThe financial crisis in many countries in Asia in 1997-1998 was an unexpected event. It was mainly because most of the Asian countries had been enjoying economic growth prior to the crisis. The crisis itself started with the devaluation of Thailand’s Baht in July 1997. The Thailand government decided to float its currency in order to defend the Baht against speculative attack, despite its fixed exchange rate system. This decision was apparently the beginning of the economic downturn of many AsianRead More1997 Asian Financial Crisis and Hyundai Motor Corp7119 Words   |  29 PagesIndustry Outlook: 16 Asian Financial Crisis: Summary: 17 Recovery: 18 Hyundai Motor Corp Financial Analysis: Introduction: 20 Detailed Financial Analysis: 21 Equity Valuation: 24 Conclusion: 24 Case Solution: Project Valuation: 25 Input Descriptions: 25 Conclusion: 27 Exhibits: Hyundai Motor Corp Financial Statements 29 Bibliography:Read MoreFactors That Caused the 1997 East Asian Financial Crisis1604 Words   |  6 PagesCaused the 1997 East Asia Financial Crisis Discuss the principal factors responsible for the East Asian currency/financial crisis of 1997. In 1997, there occurred certain shifts in expectations from the market. The regional contagion and confidence led to the East Asian financial turmoil. In 1990s, it had been reported that the microeconomic and macroeconomic businesses were not performing as expected. The local and international investors had not held enough grips into the looming financial challengesRead MoreImf As An International Financial Institution Essay1130 Words   |  5 PagesThe 1997-1998 Indonesian Economic Crises. IMF Interventions - Lessons to learn. Introduction. 1997 to1998 saw the East Asian nations of Thailand, Indonesia and South Korea engulfed in an economic and financial crises that nearly collapsed their economies. The IMF was at the center stage to help during these crises. How IMF’s assistance further deepened Indonesia’s economic crises, received heavy criticism from Political, economic and social analyst against IMF s programs and Policies in Developing