Economic Crisis and Vulnerability The Story from Southeast Asia

This book examines the economic crisis and vulnerability with reference to certain countries in East Asia. The main reason that this book focuses on Indonesia is because since 1990 until recently Indonesia has been hit by two big economic crises. The first one was a regional economic crisis in Southeast Asia during the period 1997-98. The crisis was triggered by a sudden capital flight which led to currency crisis and ended up as financial/economic crises in Indonesia, Thailand, the Philippines and South Korea. The second crisis was the global economic crisis in the period 2008-09. The crisis rapidly developed and spread into a global economic shock, resulting in a number of bank failures, declines in various stock indexes, and large reductions in the market value of equities and commodities.