East Asian Economies The Crisis of 1997-98

V V Bhanoji Rao This is the author's second essay in a series on the east Asian economies and deals with the still unfolding crisis in the region. It started as a confidence crisis translating into a currency crisis in Thailand and spread to Indonesia, South Korea, Malaysia and the Philippines, Via the exposure to these economies, Singapore too was affected somewhat while Hong Kong and Taiwan have escaped more or less unhurt.