In the aftermath of the Asian crisis of 1997, a number of rapid assessments on the extent and nature of the social impact appeared. They brought out the human cost of the crisis in bolder relief. One such study, launched in the last quarter of 1998, was conducted by ADB. It was designed to assist in devising policy responses to the social crisis and identifying reforms that would strengthen social protection systems in the longer term. It covered Indonesia, the Republic of Korea, the Lao Peoples' Democratic Republic, Malaysia, Philippines, and Thailand. It sketched the transmission of social impacts from the crisis, analyzed the crisis effects on prices and employment, discussed the impact on inequality and poverty, looked at human development in terms of education, health, and family planning, touched on social capital, and looked at the environment.
In the aftermath of the Asian crisis of 1997, a number of rapid assessments on the extent and nature of the social impact appeared. They brought out the human cost of the crisis in bolder relief. One such study, launched in the last quarter of 1998, was conducted by ADB. It was designed to assist in devising policy responses to the social crisis and identifying reforms that would strengthen social protection systems in the longer term. It covered Indonesia, the Republic of Korea, the Lao Peoples' Democratic Republic, Malaysia, Philippines, and Thailand. It sketched the transmission of social impacts from the crisis, analyzed the crisis effects on prices and employment, discussed the impact on inequality and poverty, looked at human development in terms of education, health, and family planning, touched on social capital, and looked at the environment.
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
Financial contagion refers to “the spread of market disturbances -- mostly on the downside -- from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows." Financial contagion can be a potential risk for countries who are trying to integrate their financial system with international financial markets and institutions. It helps explain an economic crisis extending across neighboring countries, or even regions.
Asian Financial Crisis in 1997
Asia before Financial Crisis
Beginning of Asian Financial Crisis
Affected countries from Asian financial Crisis
End of Asian Financial Crisis
IMF role during Asian financial crisis
3 Causes of Asian Financial Crisis
Impact of Asian Financial Crisis to:
Thailand
Philippines
Malaysia
Japan
How these countries overcame the Crisis
Current developments to Avoid future financial crisis
this chapter we are going to explain key, components of the BoP, and explain how the international flow of funds is influenced by economic factors and other factors
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
Financial contagion refers to “the spread of market disturbances -- mostly on the downside -- from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows." Financial contagion can be a potential risk for countries who are trying to integrate their financial system with international financial markets and institutions. It helps explain an economic crisis extending across neighboring countries, or even regions.
Asian Financial Crisis in 1997
Asia before Financial Crisis
Beginning of Asian Financial Crisis
Affected countries from Asian financial Crisis
End of Asian Financial Crisis
IMF role during Asian financial crisis
3 Causes of Asian Financial Crisis
Impact of Asian Financial Crisis to:
Thailand
Philippines
Malaysia
Japan
How these countries overcame the Crisis
Current developments to Avoid future financial crisis
this chapter we are going to explain key, components of the BoP, and explain how the international flow of funds is influenced by economic factors and other factors
Bubble spotting - Subprime Mortgage crisis / Housing bubble 2007-2008Benjamin Van As
In the early to mid 2000s a housing bubble was created due to easy access to credit. The fall-out once investment bubble popped nearly brought the banking sector to its knees
This short presentation (part of a series on bubbles) explained what happened
Presentation talks about the crisis faced by Korea,Indonesia,Malaysia.
Some of the important reasons being BOP Deficits and Inefficient Financial Systems, drop in GDP and increase in Unemployment rate etc.
Bubble Spotting - The East Asia Currency and Debt crisis of 1997Benjamin Van As
During the 1990s, various Eastern Asia economies grew at double-digit figures, and exports grew at well over 10% pa. in some cases.
Then the party ended with a bang as the Currency and Debt Bubble popped, the impact of which could be felt in markets around the world.
This presentation (which forms part of a larger series on Market Bubbles) gives a short overview on what happened.
China's reminbi our currency your problemSaurabh Arora
China’s Renminbi: “Our Currency, Your Problem”?
“Yuan” and “Renminbi” often used names
Since 1969, official name of China’s currency is renminbi
Yuan is the denominated unit
China is the world’s third-largest exporter, estimated to be atleast US$970 billion in 2006
9% annual growth of China’s economy over the previous decade
Official and market rates were unified
Official rate was adjusted to the market rate at US$1=RMB8.7
20% transactions conducted at official rate
Remaining at swap centres
Renminbi was convertible on current account
Capital account was tightly controlled except FDI
September 11, 2013. This presentation I made at the Fellowship Dinner for Chartered Wealth Managers in Manila. The idea of this presentation was to show CWM member, how to look around you and get information. I used Time magazine cover to build the investment climate over the last few years. Second Rule, reduce the use of charts in the investment talks, most investors can not comprehend the X axis and Y axis of a graph in a few seconds and understand the implication. Although, I must admit the pdf version without the relevant talk along with the slides, appears a bit dry.
A situation in which the wealth of a nation or State or country experiences a sudden downturn brought on by a financial crisis. An economy facing an economic crisis will most likely experience a falling national output, a drying up of liquidity and inflation/deflation. An economic crisis can take the form of a recession or depression.
Similar to Asian financial crisis 1997 theme 2 (20)
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. Introduction
• The Asian Financial Crisis was a period of financial crisis that gripped
much of Asia beginning in July 1997.
• The crisis started in Thailand with the financial collapse of the Thai Baht.
• Indonesia, South Korea and Thailand were the countries most affected by
the crisis. Hong Kong, Malaysia, Laos and the Philippines were also hurt
by the slump.
• Until 1997, Asia attracted almost half of total capital inflow to
developing countries. The economies of Southeast Asia in particular
maintained high interest rates attractive to foreign investors looking for a
high rate of return.
3. Asian Miracle
• Attracted half of total capital inflow.
• High savings and investment rate.
• Robust growth – (8-12% GDP).
• Moderate inflation.
• Export to rich nations.
• Increase in asset values ( land and stock prices).
• Acknowledged by IMF and World
4. The Bubble
• Thailand‟s economy – bubble fuelled by „Hot money‟
• Debt-GDP Ratios went up to 180%
• More and more was required as the bubble grew
• Development money went in a largely uncontrolled manner to certain
people only, not particularly the best suited or most efficient, but
those closest to the centers of power.
• Real estate speculation
• Countries became excessively dependent upon exports for their
economy
• Very high leverage & exposure to forex risk
5. The Tripping Point
• U.S. economy recovered from a recession in the early 1990s,
• Began to raise U.S. interest rates to head off inflation.
• This made the U.S. a more attractive investment destination
relative to Southeast Asia, which had been attracting hot money
flows through high short-term interest rates, and raised the value
of the U.S. dollar.
• For Asian currencies pegged to the U.S. dollar, the higher U.S.
dollar caused their own exports to become more expensive and
less competitive in the global markets.
• At the same time, Southeast Asia's export growth slowed
dramatically in the spring of 1996, deteriorating their current
account position.
6. The Downturn
• Asset prices began to collapse
• Causing individuals & companies to default
• Panic among lenders – led to withdrawal of funds
• Credit crunch & bankruptcies
• Depreciative pressures on exchange rates
• Government action:
• Raised interest rates tremendously to prevent capital flight
• Buying up excess domestic currency at fixed rate to maintain the peg
• Capital fleeing could not be stopped
• Central bank allowed currencies to float
• Drastic Depreciation
• Further increasing the debt obligations and worsening the crisis.
7. The Start…Thailand
• 1985-96 , Thailand grew at an average of 9% per year.
• Low Inflation – within (3.4 to 5.7%)
• Until July 97 – Baht was pegged to 25 US $
• Economy attractive to speculators
• Huge capital inflow.
• By 1995, Net capital inflow of US$ 14.239 billion.
8. Cont…
• Stock market 175% , Property sector 395%.
• 50 banks and non banks financial institutes emerged.
• FDI to Thai economy fell from 33.57% to 15.90%
• Mismatch between foreign assets and liabilities.
• Starting 1995, economy slows down
9. Cont…
• May 1997 , Baht hit by Massive Speculative Attack.
• June End , Thai PM declared he wont devaluate Baht.
• 90% of country‟s foreign reserve used to defend Baht.
• Govt Fails, July moves to flexible exchange rate.
• Thailand‟s booming economy comes to a halt.
• Thailand approached IMF.
11. Indonesia
• Devaluation of Rupiah from 2000 to 18000 per US $.
• 16 major commercial banks were closed.
• Bank of Indonesia governor sacked.
• President Suharto , steps down after 30 yrs in Power.
• Moody‟s downgrades long term debt to “Junk Bond”.
12. Malaysia
• July 1997, Malaysian Ringgit jumped overnight from 8%
to over 40%.
• Ratings had fallen from investment grade to junk
• Lost 50% of value, from 2.50 to 3.80 to the dollar
• Output of real economy declined : Construction dropped
23%,Manufacturing 9%, Agriculture 5.9%,GDP 6.2%
13. South Korea
• Devaluation of Won: from 1000 to 1700 Per US $
• Moody downgrades credit rating from A1 - B2
• National debt-GDP ratio went from 13%-30%
• Seoul stock exchange dropped 4% on Nov 7, 7% on Nov 8,
and 7.2% on Nov 24
• 1998 Hyundai took over Kia Motors, Samsung was dissolved,
and Daewoo was sold to American GM
14. Philippines
• 1998, Growth dropped to virtually zero.
• Peso fell significantly from 26 US $ to 55 US $.
• President Estrada forced to Resign.
15. Japan
• 40% of Japan‟s export go to Asia.
• Japanese Yen fell to 147 as mass selling began.
• GDP growth rate slowed from 5% to 1.6%.
• Some companies went bankrupt.
17. Causes Of The Crisis
• Foreign debt-to-GDP ratios rose from 100% to 167% in the four large
ASEAN economies in 1993-96
• Large CAD
• Financed by hot money flows (on capital account). Hot money flows
were accumulated because of higher interest rates in the East.
• Financial deregulation encouraged more loans and helped to create asset
bubbles
• Booming economy and booming property markets encouraged expansive
borrowing by firms.
18. • In the late 1990s, the US increased interest rates to reduce
inflationary pressures. Higher interest rates in the US, made the East
less attractive as a place to move hot money flows. As hot money
flows into the east dried up, currencies started to fall and
governments struggled to keep exchange rates at their fixed level
against the US Dollar.
• The devaluation caused debt to be even more difficult to repay and
countries started to default.
20. Role Of IMF
• Created a series of bailout for most affected economy.
• Provided $120 billion as bailout package.
• SAP –Structural Adjustment Package.
1. Change currency, banking and financial system.
2. Reduced Govt spending and deficits.
3. Close insolvent banks and financial institutions.
4. Raise interest rate.
21. Effects Of IMF
Intervention
• At this stage the IMF intervened to try and stabilise the
crisis. However, their intervention has proved very
controversial, with many arguing that their intervention
made things worse.
• The IMF insisted on fiscal restraint – lower spending,
higher taxes and privatisation. This contractionary fiscal
policy caused the economic downturn to exacerbate and
the economy plunged into recession. Bankruptcies
increased and there was a flight of capital.
22. Why India was not
affected by the crisis?
• Full Capital Convertibility was not allowed.
• Lock in Period for foreign investment in real estate.
• Floating exchange rate with some influence by the RBI during
periods of crisis.
• Strong Fundamental growth with services sector being the
prime reason.
• External Debt to GDP has been declining for the past few
years.