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Financial crisis, Southeast Asia, economics


Economic History | Economics | Finance


Although much has been written about the financial crisis that hit Southeast Asia in 1997, a gap has developed in the literature. While journalists in the popular media have related the gory details of rising interest rates and plummeting exchange rates in the region, they have done little to explain the economic forces underlying the region's problems. On the other side, economists have created a variety of very complex models to explain the breakdown in Southeast Asia, but they have generally written about these matters in terms only other economists could understand. As a result, the general public has been faced with a steady stream of imposing stories relating that the financial troubles in Asia have devastated the economies in the region, but but they have received only the most superficial explanation of how and why the problems developed. The purpose of this thesis is to fill the gap in the literature on the financial crisis in Southeast Asia by ultimately providing a fundamentally sound economic explanation of the processes involved in the crisis, in a way that an educated general audience can understand and appreciate. This explanation will hopefully provide readers with some peace of mind as well as some economic tools with which to think about any future problems.

Department 1 Awarding Honors Status



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