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1997 Asian financial crisis

Index 1997 Asian financial crisis

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. [1]

225 relations: Abdurrahman Wahid, Alan Greenspan, Albert-László Barabási, Anti-globalization movement, Anti-Western sentiment, Argentina, Asia-Pacific Economic Cooperation, Asiaweek, Association of Southeast Asian Nations, B. J. Habibie, Bailout, Balance of trade, Bamboo network, Bangko Sentral ng Pilipinas, Bank Indonesia, Bank Negara Indonesia, Bank Negara Malaysia, Bank run, Bankruptcy, Behavioral economics, Big Oil, Brazil, Brookings Institution, Brookings Papers on Economic Activity, Brunei, Cancún, Capital (economics), Capital flight, Capital market, Center for Economic and Policy Research, Central Intelligence Agency, Central Provident Fund, Chaebol, Chavalit Yongchaiyudh, China, Conglomerate (company), Consumer confidence, Consumer debt, Contract, Convertibility, Copper, Corporate governance, Credit, Credit crunch, Credit rating, Crony capitalism, Currency appreciation and depreciation, Currency band, Currency board, Currency intervention, ..., Currency swap, Current account, Daewoo, Debt-to-GDP ratio, Default (finance), Devaluation, Developing country, Disposable and discretionary income, Doha, Donald Tsang, Dot-com bubble, Dow Jones Industrial Average, East Timor, Economic bubble, Economic growth, Economies of scale, Economy of Asia, Economy of the United States, Emerging markets, External debt, Fall of Suharto, Federal Reserve Bank of New York, Federal Reserve System, Financial centre, Financial contagion, Financial crisis, Financial economics, Financial market, Financial sector development, Fiscal policy, Fixed exchange-rate system, Floating exchange rate, Foreign exchange market, Foreign exchange risk, Foreign-exchange reserves, Four Asian Tigers, Frederic Mishkin, Free-trade area, Frontline (U.S. TV series), General Motors, George Soros, Gloria Macapagal Arroyo, Government debt, Government of China, Great Depression, Gross national product, Hang Seng Index, Herd mentality, High-yield debt, Hong Kong, Hong Kong dollar, Hong Kong Monetary Authority, Hot money, HSBC, Hyundai Motor Company, Indonesia, Indonesian occupation of East Timor, Indonesian rupiah, Inflation, Information asymmetry, Insolvency, Interconnectivity, International Monetary Fund, Islam, J. Soedradjad Djiwandono, Jakarta Stock Exchange, Japan, Japan Policy Research Institute, Japanese yen, Jeffrey Sachs, Joseph Estrada, Joseph Stiglitz, JSTOR, Keynesian economics, Khazanah Nasional, Kia Motors, Korea Exchange, Kyoto, Laos, Latin American debt crisis, Leverage (finance), Liability (financial accounting), Liquidity crisis, List of circulating currencies, List of sovereign states and dependent territories in Asia, Long-Term Capital Management, Macroeconomics, Mahathir Mohamad, Malaysia, Malaysian ringgit, Mark Weisbrot, Market capitalization, May 1998 riots of Indonesia, Maybank, Michel Camdessus, Monetary Authority of Singapore, Money supply, Moody's Investors Service, Natural disaster, New York Stock Exchange, Newly industrialized country, Non-performing loan, October 27, 1997, mini-crash, OPEC, Overseas Chinese, Oxford University Press, Paul Krugman, PBS NewsHour, Philippine peso, Philippines, Plaza Accord, Portfolio investment, President of Indonesia, Price of oil, Profit (economics), PSE Composite Index, PublicAffairs, Purchasing power parity, Pure economic loss, Rate of return, Recession, Renminbi, Ripple effect, Salahuddin of Selangor, Samsung, Seattle, Second EDSA Revolution, September 11 attacks, Short (finance), Singapore, Singapore dollar, Social network analysis, Solvency, South Korea, South Korean won, Speculation, Stanley Fischer, State-owned enterprise, Stock market, Stock market crashes in Hong Kong, Stock market downturn of 2002, Straits Times Index, Structural adjustment, Subang Jaya, Subprime mortgage crisis, Suharto, Taiwan, Thai baht, Thai language, Thailand, The Economist, The Standard (Hong Kong), The Star (Malaysia), The World Factbook, Tom yum, Tracker Fund of Hong Kong, Transfer of sovereignty over Hong Kong, Tsinghua University, Ulaanbaatar, United States dollar, United States housing bubble, United States Treasury security, University of Malaya, Vietnam, Volatility (finance), Washington Consensus, Woodrow Wilson International Center for Scholars, World Bank, World Trade Organization, World War II, Yang di-Pertuan Agong, 1990s Chinese bank restructurings, 1997 Asian financial crisis, 1998 Russian financial crisis, 1998–2002 Argentine great depression. Expand index (175 more) »

Abdurrahman Wahid

Abdurrahman Wahid, born Abdurrahman ad-Dakhil (September 1940 – 30 December 2009), colloquially known as, was an Indonesian Muslim religious and political leader who served as the President of Indonesia from 1999 to 2001.

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Alan Greenspan

Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006.

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Albert-László Barabási

Albert-László Barabási (born March 30, 1967) is a Romanian-born Hungarian-American physicist, best known for his work in the research of network theory.

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Anti-globalization movement

The anti-globalization movement, or counter-globalisation movement, is a social movement critical of economic globalization.

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Anti-Western sentiment

Anti-Western sentiment, also known as Anti-Atlanticism refers to broad opposition or hostility to the people, culture, values, or policies of the Western World.

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Argentina

Argentina, officially the Argentine Republic (República Argentina), is a federal republic located mostly in the southern half of South America.

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Asia-Pacific Economic Cooperation

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim member economies.

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Asiaweek

Asiaweek was an English-language news magazine focusing on Asia, published weekly by Asiaweek Limited, a subsidiary of Time Inc. Based in Hong Kong, it was established in 1975, and ceased publication with its 7 December 2001 issue due to a "downturn in the advertising market," according to Norman Pearlstine, editor in chief of Time Inc.

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Association of Southeast Asian Nations

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising ten Southeast Asian countries that promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration amongst its members, other Asian countries, and globally.

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B. J. Habibie

Bacharuddin Jusuf Habibie (born 25 June 1936) is an Indonesian engineer who was President of Indonesia from 1998 to 1999.

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Bailout

A bailout is a colloquial term for the provision of financial help to a corporation or country which otherwise would be on the brink of failure or bankruptcy.

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Balance of trade

The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period.

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Bamboo network

The "Bamboo network" is a term used to conceptualize connections between businesses operated by the Overseas Chinese community in Southeast Asia.

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Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines.

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Bank Indonesia

Bank Indonesia (BI) is the central bank of the Republic of Indonesia.

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Bank Negara Indonesia

PT Bank Negara Indonesia (Persero) Tbk or Bank Negara Indonesia (literally means Indonesian State Bank), is an Indonesian state-owned bank.

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Bank Negara Malaysia

The Central Bank of Malaysia (BNM; Bank Negara Malaysia) is the Malaysian central bank.

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Bank run

A bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future.

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Bankruptcy

Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.

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Behavioral economics

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

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Big Oil

Big Oil is a name used to describe the world's six or seven largest publicly traded oil and gas companies, also known as supermajors.

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Brazil

Brazil (Brasil), officially the Federative Republic of Brazil (República Federativa do Brasil), is the largest country in both South America and Latin America.

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Brookings Institution

The Brookings Institution is a century-old American research group on Think Tank Row in Washington, D.C. It conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and global economy and development.

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Brookings Papers on Economic Activity

The Brookings Papers on Economic Activity (BPEA) is a journal of macroeconomics published twice a year by the Brookings Institution Press.

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Brunei

Brunei, officially the Nation of Brunei, the Abode of Peace (Negara Brunei Darussalam, Jawi), is a sovereign state located on the north coast of the island of Borneo in Southeast Asia.

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Cancún

Cancún is a city in southeastern Mexico on the northeast coast of the Yucatán Peninsula in the Mexican state of Quintana Roo.

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Capital (economics)

In economics, capital consists of an asset that can enhance one's power to perform economically useful work.

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Capital flight

Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence.

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Capital market

A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold.

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Center for Economic and Policy Research

The Center for Economic and Policy Research (CEPR) is an economic policy think-tank, co-founded by economists Dean Baker and Mark Weisbrot, and is based in Washington, D.C. It has been described as left-leaning.

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Central Intelligence Agency

The Central Intelligence Agency (CIA) is a civilian foreign intelligence service of the United States federal government, tasked with gathering, processing, and analyzing national security information from around the world, primarily through the use of human intelligence (HUMINT).

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Central Provident Fund

In Singapore, the Central Provident Fund (CPF; Chinese: 公积金, Pinyin: Gōngjījīn) is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing needs.

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Chaebol

A chaebol is a large industrial conglomerate that is run and controlled by an owner or family in South Korea.

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Chavalit Yongchaiyudh

Chavalit Yongchaiyudh (ชวลิต ยงใจยุทธ,,, born 15 May 1932), also known as "Big Jiew" (บิ๊กจิ๋ว), is a Thai politician and retired army officer.

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China

China, officially the People's Republic of China (PRC), is a unitary one-party sovereign state in East Asia and the world's most populous country, with a population of around /1e9 round 3 billion.

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Conglomerate (company)

A conglomerate is the combination of two or more corporations operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries.

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Consumer confidence

Consumer confidence is an economic indicator that measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation.

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Consumer debt

In economics, consumer debt is the amount owed by consumers, as opposed to that of businesses or governments.

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Contract

A contract is a promise or set of promises that are legally enforceable and, if violated, allow the injured party access to legal remedies.

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Convertibility

Convertibility is the quality that allows money or other financial instruments to be converted into other liquid stores of value.

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Copper

Copper is a chemical element with symbol Cu (from cuprum) and atomic number 29.

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Corporate governance

Corporate governance is the mechanisms, processes and relations by which corporations are controlled and directed.

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Credit

Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead promises either to repay or return those resources (or other materials of equal value) at a later date.

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Credit crunch

A credit crunch (also known as a credit squeeze or credit crisis) is a sudden reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from banks.

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Credit rating

A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting.

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Crony capitalism

Crony capitalism is an economy in which businesses thrive not as a result of risks they take, but rather as a return on money amassed through a nexus between a business class and the political class.

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Currency appreciation and depreciation

Currency depreciation is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in which no official currency value is maintained.

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Currency band

A currency band is a range of values for the exchange rate for a country’s currency which the country’s central bank acts to keep the exchange rate within.

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Currency board

A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency.

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Currency intervention

Currency intervention, also known as foreign exchange market intervention or currency manipulation is a monetary policy operation.

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Currency swap

In finance, a currency swap (more typically termed a cross-currency swap (XCS)) is an interest rate derivative (IRD).

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Current account

In economics, a country's current account is one of the two components of its balance of payments, the other being the capital account (also known as the financial account).

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Daewoo

Daewoo (literally "Great Woo", after the first name of founder and chairman Kim Woo-jung) or the Daewoo Group was a major South Korean conglomerate and car manufacturer.

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Debt-to-GDP ratio

In economics, the debt-to-GDP ratio is the ratio between a country's government debt (a cumulative amount) and its gross domestic product (GDP) (measured in years).

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Default (finance)

In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity.

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Devaluation

In modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currency basket.

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Developing country

A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.

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Disposable and discretionary income

Disposable income is total personal income minus personal current taxes.

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Doha

Doha (الدوحة, or ad-Dōḥa) is the capital and most populous city of the State of Qatar.

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Donald Tsang

Donald Tsang Yam-kuen, GBM (born 7 October 1944) is a former Hong Kong civil servant and the second Chief Executive of Hong Kong from 2005 to 2012.

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Dot-com bubble

The dot-com bubble (also known as the dot-com boom, the dot-com crash, the Y2K crash, the Y2K bubble, the tech bubble, the Internet bubble, the dot-com collapse, and the information technology bubble) was a historic economic bubble and period of excessive speculation that occurred roughly from 1997 to 2001, a period of extreme growth in the usage and adaptation of the Internet.

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Dow Jones Industrial Average

The Dow Jones Industrial Average (DJIA), or simply the Dow, is a stock market index that shows how 30 large, publicly owned companies based in the United States have traded during a standard trading session in the stock market.

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East Timor

East Timor or Timor-Leste (Tetum: Timór Lorosa'e), officially the Democratic Republic of Timor-Leste (República Democrática de Timor-Leste, Repúblika Demokrátika Timór-Leste), is a sovereign state in Maritime Southeast Asia.

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Economic bubble

An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.

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Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

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Economies of scale

In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by amount of output produced), with cost per unit of output decreasing with increasing scale.

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Economy of Asia

The economy of Asia comprises more than 4.5 billion people (60% of the world population) living in 49 different nation states.

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Economy of the United States

The economy of the United States is a highly developed mixed economy.

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Emerging markets

An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market.

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External debt

External loan (or foreign debt) is the total debt a country owes to foreign creditors, complemented by internal debt owed to domestic lenders.

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Fall of Suharto

Suharto resigned as president of Indonesia in May 1998 following the collapse of support for his three-decade long presidency.

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Federal Reserve Bank of New York

The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Financial centre

A financial centre is a location that is home to a cluster of nationally or internationally significant financial services providers such as banks, investment managers, or stock exchanges.

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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".

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Financial crisis

A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value.

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Financial economics

Financial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade".

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Financial market

A financial market is a market in which people trade financial securities and derivatives such as futures and options at low transaction costs.

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Financial sector development

Financial sector development in developing countries and emerging markets is part of the private sector development strategy to stimulate economic growth and reduce poverty.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

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Fixed exchange-rate system

A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold.

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Floating exchange rate

A floating exchange rate (also called a fluctuating or flexible exchange rate) is a type of exchange-rate regime in which a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms.

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Foreign exchange market

The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies.

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Foreign exchange risk

Foreign exchange risk (also known as FX risk, exchange rate risk or currency risk) is a financial risk that exists when a financial transaction is denominated in a currency other than that of the base currency of the company.

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Foreign-exchange reserves

Foreign-exchange reserves (also called forex reserves or FX reserves) is money or other assets held by a central bank or other monetary authority so that it can pay if need be its liabilities, such as the currency issued by the central bank, as well as the various bank reserves deposited with the central bank by the government and other financial institutions.

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Four Asian Tigers

The Four Asian Tigers, Four Asian Dragons or Four Little Dragons, are the economies of Hong Kong, Singapore, South Korea and Taiwan, which underwent rapid industrialization and maintained exceptionally high growth rates (in excess of 7 percent a year) between the early 1960s (mid-1950s for Hong Kong) and 1990s.

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Frederic Mishkin

Frederic Stanley "Rick" Mishkin (born January 11, 1951) is an American economist and Alfred Lerner professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University.

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Free-trade area

A free-trade area is the region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA).

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Frontline (U.S. TV series)

Frontline (styled by the program as FRONTLINE) is the flagship investigative journalism series of the Public Broadcasting Service (PBS), producing in-depth documentaries on a variety of domestic and international stories and issues, and broadcasting them on air and online.

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General Motors

General Motors Company, commonly referred to as General Motors (GM), is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services.

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George Soros

George Soros, Hon (Soros György,; born György Schwartz; August 12, 1930) is a Hungarian-American investor, business magnate, philanthropist, political activist and author.

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Gloria Macapagal Arroyo

Maria Gloria Macaraeg Macapagal Arroyo (born April 5, 1947) is a Filipino professor and politician who served as the 14th President of the Philippines from 2001 until 2010, as the 10th Vice President of the Philippines from 1998 to 2001, as the deputy speaker of the 17th Congress and a member of the House of Representatives representing the 2nd District of Pampanga since 2010.

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Government debt

Government debt (also known as public interest, public debt, national debt and sovereign debt) is the debt owed by a government.

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Government of China

The central government of the People's Republic of China is divided among several state organs.

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Gross national product

Gross national product (GNP) is the market value of all the goods and services produced in one year by labor and property supplied by the citizens of a country.

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Hang Seng Index

The Hang Seng Index (abbreviated: HSI) is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong.

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Herd mentality

Herd mentality, mob mentality and pack mentality, also lesser known as gang mentality, describes how people can be influenced by their peers to adopt certain behaviors on a largely emotional, rather than rational, basis.

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High-yield debt

In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade.

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Hong Kong

Hong Kong (Chinese: 香港), officially the Hong Kong Special Administrative Region of the People's Republic of China, is an autonomous territory of China on the eastern side of the Pearl River estuary in East Asia.

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Hong Kong dollar

The Hong Kong dollar (sign: HK$; code: HKD) is the official currency of Hong Kong.

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Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA, or 金管局) is Hong Kong's currency board and de facto central bank.

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Hot money

In economics, hot money is the flow of funds (or capital) from one country to another in order to earn a short-term profit on interest rate differences and/or anticipated exchange rate shifts.

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HSBC

HSBC Holdings plc is a British multinational banking and financial services holding company, tracing its origin to a hong in Hong Kong.

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Hyundai Motor Company

The Hyundai Motor Company (modernity) is a South Korean multinational automotive manufacturer headquartered in Seoul, South Korea.

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Indonesia

Indonesia (or; Indonesian), officially the Republic of Indonesia (Republik Indonesia), is a transcontinental unitary sovereign state located mainly in Southeast Asia, with some territories in Oceania.

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Indonesian occupation of East Timor

The Indonesian occupation of East Timor began in December 1975 and lasted until October 1999.

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Indonesian rupiah

The rupiah (Rp) is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. The name "Rupiah" is derived from the Indian word rupiya (रुपीया), ultimately from Sanskrit rupyakam (रूप्यकम्; silver). Informally, Indonesians also use the word "perak" ("silver" in Indonesian) in referring to rupiah. The rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete. The Riau islands and the Indonesian half of New Guinea (Irian Barat) had their own variants of the rupiah in the past, but these were subsumed into the national rupiah in 1964 and 1971 respectively (see Riau rupiah and West Irian rupiah).

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Inflation

In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.

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Information asymmetry

In contract theory and economics, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other.

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Insolvency

Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be insolvent.

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Interconnectivity

Interconnectivity refers to the state or quality of being connected together, or to the potential to connect in an easy and effective way.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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Islam

IslamThere are ten pronunciations of Islam in English, differing in whether the first or second syllable has the stress, whether the s is or, and whether the a is pronounced, or (when the stress is on the first syllable) (Merriam Webster).

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J. Soedradjad Djiwandono

Joseph Soedradjad Djiwandono (born 7 August 1938 in Yogyakarta) was the Governor of Bank Indonesia, the nation's central bank, from 1993 until his sudden dismissal in 1998.

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Jakarta Stock Exchange

Jakarta Stock Exchange (JSX) or in Indonesian Bursa Efek Jakarta (BEJ) was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesian Stock Exchange.

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Japan

Japan (日本; Nippon or Nihon; formally 日本国 or Nihon-koku, lit. "State of Japan") is a sovereign island country in East Asia.

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Japan Policy Research Institute

The Japan Policy Research Institute (JPRI) is a non-profit organization organized under section 501(c)(3) of the U.S. Internal Revenue Code that was founded in 1994 by Chalmers Johnson and Steven C. Clemons in order "to promote public education about Japan, its then growing significance in world affairs, and trans-Pacific international relations." Japan was never the exclusive focus, and JPRI has also published many articles about China, Korea, Southeast Asia, and Inner Asia.

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Japanese yen

The is the official currency of Japan.

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Jeffrey Sachs

Jeffrey David Sachs (born November 5, 1954) is an American economist and director of the Earth Institute at Columbia University, where he holds the title of University Professor, the highest rank Columbia bestows on its faculty.

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Joseph Estrada

Joseph Ejercito "Erap" Estrada (real name José Marcelo Ejército Sr.; born April 19, 1937) is a Filipino politician and former actor who served as the 13th President of the Philippines from 1998 to 2001 and as the 9th Vice President of the Philippines from 1992 to 1998.

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Joseph Stiglitz

Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and a professor at Columbia University.

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JSTOR

JSTOR (short for Journal Storage) is a digital library founded in 1995.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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Khazanah Nasional

Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia.

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Kia Motors

Kia Motor Corporation (stylized as KIΛ), headquartered in Seoul, is South Korea's second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 3.3 million vehicles in 2015.

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Korea Exchange

Korea Exchange (KRX) is the sole securities exchange operator in South Korea.

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Kyoto

, officially, is the capital city of Kyoto Prefecture, located in the Kansai region of Japan.

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Laos

Laos (ລາວ,, Lāo; Laos), officially the Lao People's Democratic Republic (Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ, Sathalanalat Paxathipatai Paxaxon Lao; République démocratique populaire lao), commonly referred to by its colloquial name of Muang Lao (Lao: ເມືອງລາວ, Muang Lao), is a landlocked country in the heart of the Indochinese peninsula of Mainland Southeast Asia, bordered by Myanmar (Burma) and China to the northwest, Vietnam to the east, Cambodia to the southwest and Thailand to the west and southwest.

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Latin American debt crisis

The Latin American debt crisis (Crisis de la deuda latinoamericana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as the "lost decade", when Latin American countries reached a point where their foreign debt exceeded their earning power and they were not able to repay it.

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Leverage (finance)

In finance, leverage (sometimes referred to as gearing in the United Kingdom and Australia) is any technique involving the use of borrowed funds in the purchase of an asset, with the expectation that the after tax income from the asset and asset price appreciation will exceed the borrowing cost.

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Liability (financial accounting)

In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

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Liquidity crisis

In financial economics, a liquidity crisis refers to an acute shortage (or "drying up") of liquidity.

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List of circulating currencies

This list contains the 180 currencies recognized as legal tender in United Nations (UN) member states, UN observer states, partially recognized or unrecognized states, and their dependencies.

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List of sovereign states and dependent territories in Asia

This is a list of sovereign states and dependent territories in Asia.

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Long-Term Capital Management

Long-Term Capital Management L.P. (LTCM) was a hedge fund management firmA financial History of the United States Volume II: 1970–2001, Jerry W. Markham, Chapter 5: "Bank Consolidation", M. E. Sharpe, Inc., 2002 based in Greenwich, Connecticut that used absolute-return trading strategies combined with high financial leverage.

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Macroeconomics

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

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Mahathir Mohamad

Tun Dr. Mahathir bin Mohamad (Jawi:محضير بن محمد; IPA:; born 10 July 1925) is a Malaysian politician currently serving as the Prime Minister of Malaysia for the second time.

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Malaysia

Malaysia is a federal constitutional monarchy in Southeast Asia.

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Malaysian ringgit

The Malaysian ringgit (plural: ringgit; symbol: RM; currency code: MYR; formerly the Malaysian dollar) is the currency of Malaysia.

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Mark Weisbrot

Mark Alan Weisbrot is an American economist and columnist.

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Market capitalization

Market capitalization (market cap) is the market value of a publicly traded company's outstanding shares.

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May 1998 riots of Indonesia

The May 1998 riots of Indonesia (Kerusuhan Mei 1998), also known as the 1998 tragedy (Tragedi 1998) or simply the 1998 event (Peristiwa 1998), were incidents of mass violence, demonstrations, and civil unrest of a racial nature that occurred throughout Indonesia, mainly in Medan in the province of North Sumatra (4–8 May), the capital city of Jakarta (12–15 May), and Surakarta (also called Solo) in the province of Central Java (13–15 May).

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Maybank

Malayan Banking Berhad is a Malaysian universal bank, with key operating “home markets” of Malaysia, Singapore and Indonesia.

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Michel Camdessus

Michel Camdessus (born 1 May 1933) is a French applied economist and administrator who was Managing Director of the International Monetary Fund (IMF) from 16 January 1987 to 14 February 2000.

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Monetary Authority of Singapore

The Monetary Authority of Singapore (Abbreviation: MAS;; Malay: Penguasa Kewangan Singapura) is Singapore's central bank and financial regulatory authority.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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Moody's Investors Service

Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name.

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Natural disaster

A natural disaster is a major adverse event resulting from natural processes of the Earth; examples include floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes.

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New York Stock Exchange

The New York Stock Exchange (abbreviated as NYSE, and nicknamed "The Big Board"), is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York.

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Newly industrialized country

The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists.

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Non-performing loan

A non-performing loan (NPL) is a loan that is in default or close to being in default.

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October 27, 1997, mini-crash

The October 27, 1997, mini-crash is the name of a global stock market crash that was caused by an economic crisis in Asia or Tom Yum Goong crisis; Thai: วิกฤตต้มยำกุ้ง.

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OPEC

The Organization of the Petroleum Exporting Countries (OPEC,, or OPEP in several other languages) is an intergovernmental organization of nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.

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Overseas Chinese

No description.

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Oxford University Press

Oxford University Press (OUP) is the largest university press in the world, and the second oldest after Cambridge University Press.

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Paul Krugman

Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.

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PBS NewsHour

The PBS NewsHour is an American daily evening television news program that is broadcast on the Public Broadcasting Service (PBS), airing seven nights a week on more than 350 of the public broadcaster's member stations.

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Philippine peso

The Philippine peso, also referred to by its Filipino name piso (Philippine English:,, plural pesos; piso; peso; sign: ₱; code: PHP), is the official currency of the Philippines.

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Philippines

The Philippines (Pilipinas or Filipinas), officially the Republic of the Philippines (Republika ng Pilipinas), is a unitary sovereign and archipelagic country in Southeast Asia.

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Plaza Accord

The Plaza Accord or Plaza Agreement was an agreement between the governments of France, West Germany, Japan, the United States, and the United Kingdom, to depreciate the U.S. dollar in relation to the Japanese yen and German Deutsche Mark by intervening in currency markets.

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Portfolio investment

Portfolio investments are investments in the form of a group (portfolio) of assets, including transactions in equity securities, such as common stock, and debt securities, such as banknotes, bonds, and debentures.

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President of Indonesia

The President of the Republic of Indonesia (Presiden Republik Indonesia) is the head of state and also head of government of the Republic of Indonesia.

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Price of oil

The price of oil, or the oil price, (generally) refers to the spot price of a barrel of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent ICE, Dubai Crude, OPEC Reference Basket, Tapis Crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS).

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Profit (economics)

In economics, profit in the accounting sense of the excess of revenue over cost is the sum of two components: normal profit and economic profit.

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PSE Composite Index

The PSE Composite Index, commonly known previously as the PHISIX and presently as the PSEi, is a stock market index of the Philippine Stock Exchange consisting of 30 companies.

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PublicAffairs

PublicAffairs (or PublicAffairs Books) is an imprint of the Perseus Books Group, an American book publishing company located in New York City.

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Purchasing power parity

Purchasing power parity (PPP) is a neoclassical economic theory that states that the exchange rate between two countries is equal to the ratio of the currencies' respective purchasing power.

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Pure economic loss

Economic loss is a term of art which refers to financial loss and damage suffered by a person such as can be seen only on a balance sheet rather than as physical injury to the person or destruction of property.

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Rate of return

In finance, return is a profit on an investment.

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Recession

In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.

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Renminbi

The renminbi (Ab.: RMB;; sign: 元; code: CNY) is the official currency of the People's Republic of China.

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Ripple effect

A ripple effect is a situation in which, like ripples expanding across the water when an object is dropped into it, an effect from an initial state can be followed outwards incrementally.

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Salahuddin of Selangor

Sultan Salahuddin Abdul Aziz Shah Alhaj Ibni Almarhum Sultan Hisamuddin Alam Shah Alhaj (8 March 1926 – 21 November 2001) was the eleventh Yang di-Pertuan Agong of Malaysia and eighth Sultan of Selangor.

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Samsung

Samsung is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul.

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Seattle

Seattle is a seaport city on the west coast of the United States.

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Second EDSA Revolution

The Second EDSA Revolution (EDSA II) was a four-day political protest from January 17–20, 2001 that peacefully overthrew the government of Joseph Estrada, the thirteenth President of the Philippines.

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September 11 attacks

The September 11, 2001 attacks (also referred to as 9/11) were a series of four coordinated terrorist attacks by the Islamic terrorist group al-Qaeda against the United States on the morning of Tuesday, September 11, 2001.

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Short (finance)

In finance, a short sale (also known as a short, shorting, or going short) is the sale of an asset (securities or other financial instrument) that the seller does not own.

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Singapore

Singapore, officially the Republic of Singapore, is a sovereign city-state and island country in Southeast Asia.

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Singapore dollar

The Singapore dollar (sign: S$; code: SGD) is the official currency of Singapore.

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Social network analysis

Social network analysis (SNA) is the process of investigating social structures through the use of networks and graph theory.

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Solvency

Solvency, in finance or business, is the degree to which the current assets of an individual or entity exceed the current liabilities of that individual or entity.

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South Korea

South Korea, officially the Republic of Korea (대한민국; Hanja: 大韓民國; Daehan Minguk,; lit. "The Great Country of the Han People"), is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to the Asian mainland.

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South Korean won

The won (원,; symbol: ₩; code: KRW) or the Korean Republic Won is the currency of South Korea.

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Speculation

Speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable at a future date.

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Stanley Fischer

Stanley Fischer (סטנלי פישר; born October 15, 1943) is an Israeli American economist and former vice chairman of the Federal Reserve.

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State-owned enterprise

A state-owned enterprise (SOE) is a business enterprise where the state has significant control through full, majority, or significant minority ownership.

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Stock market

A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as those only traded privately.

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Stock market crashes in Hong Kong

A number of stock market crashes have occurred in the Hong Kong stock market since the 1960s: 1960s.

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Stock market downturn of 2002

In 2001, stock prices took a sharp downturn (some say "stock market crash" or "the Internet bubble bursting") in stock markets across the United States, Canada, Asia, and Europe.

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Straits Times Index

The FTSE Straits Times Index (STI) is a capitalisation-weighted stock market index that is regarded as the benchmark index for the Singapore stock market.

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Structural adjustment

Structural adjustment programmes (SAPs) consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experienced economic crises.

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Subang Jaya

Subang Jaya is a suburban city located in the Petaling District, Selangor, Malaysia.

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Subprime mortgage crisis

The United States subprime mortgage crisis was a nationwide banking emergency, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009.

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Suharto

Muhammad Suharto (also written Soeharto;, or Muhammad Soeharto; 8 June 1921 – 27 January 2008) was an Indonesian military leader and politician who served as the second President of Indonesia, holding the office for 31 years from the ousting of Sukarno in 1967 until his resignation in 1998.

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Taiwan

Taiwan, officially the Republic of China (ROC), is a state in East Asia.

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Thai baht

The baht (บาท,; sign: ฿; code: THB) is the currency of Thailand.

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Thai language

Thai, Central Thai, or Siamese, is the national and official language of Thailand and the first language of the Central Thai people and vast majority Thai of Chinese origin.

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Thailand

Thailand, officially the Kingdom of Thailand and formerly known as Siam, is a unitary state at the center of the Southeast Asian Indochinese peninsula composed of 76 provinces.

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The Economist

The Economist is an English-language weekly magazine-format newspaper owned by the Economist Group and edited at offices in London.

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The Standard (Hong Kong)

The Standard is an English free newspaper in Hong Kong with a daily circulation in 2012 of 200,450.

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The Star (Malaysia)

The Star is an English-language, tabloid-format newspaper in Malaysia.

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The World Factbook

The World Factbook, also known as the CIA World Factbook, is a reference resource produced by the Central Intelligence Agency (CIA) with almanac-style information about the countries of the world.

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Tom yum

Tom yum or tom yam (ต้มยำ) is a type of hot and sour Thai soup, usually cooked with shrimp (prawn).

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Tracker Fund of Hong Kong

Tracker Fund of Hong Kong or TraHK is a unit trust which provides investment results that correspond to the performance of the Hang Seng Index in the Hong Kong stock market.

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Transfer of sovereignty over Hong Kong

The transfer of sovereignty over Hong Kong from the United Kingdom to China, referred to as "the Handover" internationally or "the Return" in Mainland China, took place on 1 July 1997.

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Tsinghua University

Tsinghua University (abbreviated THU;; also romanized as Qinghua) is a major research university in Beijing, China and a member of the elite C9 League of Chinese universities.

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Ulaanbaatar

Ulaanbaatar, formerly anglicised as Ulan Bator (Улаанбаатар,, Ulaγanbaγatur, literally "Red Hero"), is the capital and largest city of Mongolia. The city is not part of any aimag (province), and its population was over 1.3 million, almost half of the country's total population. Located in north central Mongolia, the municipality lies at an elevation of about in a valley on the Tuul River. It is the country's cultural, industrial and financial heart, the centre of Mongolia's road network and connected by rail to both the Trans-Siberian Railway in Russia and the Chinese railway system. The city was founded in 1639 as a nomadic Buddhist monastic centre. In 1778, it settled permanently at its present location, the junction of the Tuul and Selbe rivers. Before that, it changed location twenty-eight times, with each location being chosen ceremonially. In the twentieth century, Ulaanbaatar grew into a major manufacturing center. Ulaanbaatar is a member of the Asian Network of Major Cities 21. The city's official website lists Moscow, Hohhot, Seoul, Sapporo and Denver as sister cities.

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United States dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution since 1792.

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United States housing bubble

The United States housing bubble was a real estate bubble affecting over half of the U.S. states.

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United States Treasury security

A United States Treasury security is an IOU from the US Government.

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University of Malaya

The University of Malaya (UM; Universiti Malaya) is a public research university located in Kuala Lumpur, Malaysia.

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Vietnam

Vietnam, officially the Socialist Republic of Vietnam, is the easternmost country on the Indochina Peninsula in Southeast Asia.

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Volatility (finance)

In finance, volatility (symbol σ) is the degree of variation of a trading price series over time as measured by the standard deviation of logarithmic returns.

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Washington Consensus

The Washington Consensus is a set of 10 economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C.–based institutions such as the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.

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Woodrow Wilson International Center for Scholars

The Woodrow Wilson International Center for Scholars (or Wilson Center), located in Washington, D.C., is a United States Presidential Memorial that was established as part of the Smithsonian Institution by an act of Congress in 1968.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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Yang di-Pertuan Agong

The Yang di-Pertuan Agong (literally "He Who Was Made Lord", Jawi: يڠ دڤرتوان اݢوڠ), also known as the King, is the monarch and head of state of Malaysia.

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1990s Chinese bank restructurings

1990s Chinese bank restructurings refers to the period from 1990-1999 when China's banking system underwent systemic restructurings.

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1997 Asian financial crisis

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.

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1998 Russian financial crisis

The Russian financial crisis (also called Ruble crisis or the Russian Flu) hit Russia on 17 August 1998.

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1998–2002 Argentine great depression

The 1998–2002 Argentine Great Depression was an economic depression in Argentina, which began in the third quarter of 1998 and lasted until the second quarter of 2002.

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Redirects here:

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References

[1] https://en.wikipedia.org/wiki/1997_Asian_financial_crisis

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