This chapter examines the course of events from the middle of 1997 to early 1999. By way of backdrop, Figure 1 provides a summary of the flow of events, Table 1 lists notable economic and political occurrences over this period, and Figure 2 shows trends in exchange rates which, in an era of floating regimes, have proven to be a highly sensitive financial and political barometer. At the risk of over-simplification, and recognizing differences among countries, it is possible to identify eight principal sub-phases in the evolution of the crisis.
KeywordsExchange Rate Capital Control East ASIAN Capital FLiGHT Rice Price
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