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Essay specific features
Written by:
Kathryn C
Date added:
March 12, 2012
Level:
University
Grade:
A
No of pages / words:
6 / 1601
Was viewed:
5675 times
Rating of current essay:
Essay content:
As the U.S. economy recovered from a recession in the early 1990s, the U.S. Federal Reserve Bank under Alan Greenspan 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 attracted hot money flows through high short-term interest rates, and raised the value of the U...
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dollar, to which many Southeast Asian nations' currencies were pegged, thus making their exports less competitive. At the same time, Southeast Asia's export growth slowed dramatically in the spring of 1996, deteriorating their current account position. The situation that followed is better known as South Asian crisis of 1997...
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