Definitions for "1997 East Asian financial crisis"
The East Asian financial crisis was a period of economic unrest that started in July 1997 in South Korea with the financial collapse of Kia,and affected currencies, stock markets, and other asset prices in several Asian countries, many considered East Asian Tigers. It is also commonly referred to as the East Asian currency crisis or locally as the IMF crisis although the latter is somewhat controversial. There is general consensus on the existence of a crisis and its consequences, but what is less clear are the causes of the crisis, its scope and resolution.