... but are also reverberating around many other parts of the global economy. This essay first attempts to define 'East Asia' by reviewing the different sets of countries in literature focussing on the crisis. It outlines the countries that suffered most as a result of the crisis, by examining pertinent economic and financial indicators in the region. It asserts that a discussion of the causes of the crisis is impossible without an understanding of the development process in the region before crisis, and examines the particular circumstances in the region that may have contributed to the onset financial crisis. It then looks at the context for the financial crisis and focuses on events in Thailand - the country where the crisis first took hold - in an attempt to identify the relative importance of the various underlying causes of the crisis put forward. Events in other countries in the region are ...

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