What caused the 1997-98 Asian crisis: Asian countries' poor economic management, international financial crises, close the "clan" relationship between local politicians and capitalists? This is considered as the crisis erupted in Thailand and distributed in the chain of events that no one, not the Asian financial authorities or Western economists anticipated. The crisis raises questions about how well-financial institutions, such as mutual funds, managed their global investments. This raises the question of how effective package of IMF reforms and the extent to which the IMF acted in the interests of Wall Street, not in developing countries. The crisis raises the question of development policies of Asian countries: is too close "clan" relationship between politicians and the owners of the big banks or firms to pave the way for the crisis "Hide
by Hugh Pill, Rafael Di Tella, Jonathan Schlefer Source: Harvard Business School 21 pages. Publication Date: October 31, 2008. Prod. #: 709004-PDF-ENG
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