Concept information
Preferred term
Asian financial crisis
Definition
- The 1997 and 1998 Asian financial crisis began in Thailand and then quickly spread to neighboring economies. The crisis began as a currency crisis when Bangkok unpegged the Thai baht from the U.S. dollar, setting off a series of currency devaluations and massive flights of capital. [Source: Encyclopedia of Governance; Asian Financial Crisis]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/Asian_financial_crisis
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