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International Economics
What are the differences and similarities
In two crisis in Korean
between the East Asian crisis
and global financial crisis times
Contents
3. Comparison between these big incidents
2. Financial crisis originated from U.S
Causes of Financial crisis originated from U.S
Routes it spreads
Measures after Financial crisis originated from U.S
1. East Asia currency crisis
Causes of East Asia crisis
Results of East Asia crisis
1. East Asia currency crisis
External causes of
East Asia currency crisis
- Panic of international capital
- Weak financial structures and leak of
short-term speculation capital
1. East Asia currency crisis
Capital liberalization came early 1990s.
Short-term international speculation capital starts to influx
into East Asia economy.
The weak economy structure in developing countries
was not prepared.
Inflation, appreciated real exchange rate.
Decrease of competitiveness in …(생략)
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ily.
- Internal causes of East Asia currency crisis
1. East Asia currency crisis
Results of
East Asia crisis
Ⅰ. Trade balance surplus
from decrease of import
Ⅱ. IMF’s countermeasures and effect
1. East Asia currency crisis
Trade balance
East Asia’s currency value was depreciated extremely
after financial crisis.
It made their competitiveness of export goods improve
but couldn’t help export growth. This is because more
than 50% of whole exports were traded within the area.
During financial crisis, the trade balance of East Asia
turned into black ink balance because of decrease
of import.
- Results of East Asia crisis
1. East Asia currency crisis
IMF suggested a plan that is specified as low growth,
high rate, and a reduced budget to overcome crisis.
But, these plans worsen the economy of East Asia and
made it hard to redemption debts. High interest rate
caused companies which are faced to pay debts to
collapse. For redemption
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