What Led to the Asian Financial Crisis of 1997?

A Micro Analysis

• Michael Pomerleano, 1999, “The East Asia Crisis and Corporate Finance,” Emerging Market Quarterly

Foreign Long Term

Foreign Short Term

Domestic Short Term

Domestic Long Term

Impact of Currency Devaluation: Indonesian Example

After devaluation of Rph

PhilipinesIndonesiaThailandGermanyFranceKoreaJapan

SingaporeMalaysia

USAHK