Question

Give detailed accounts of the following financial crises:

The Japanese Banking Crisis of the 1990s

The Asian Crisis of the mid 1990s

The current global financial crisis.

You should include the causes of the crises, providing examples where necessary and citations of any relevant papers.

Answer 1

Japanese Banking Crisis 1990s

• The banking and financial crises that happened during the 1990s in Japan was caused the collapse of the fabled economic bubble and the asset prices in the 1980s.

• The crises caused a prolonged recession in the country.

• However, the government used the various public policy to revive the financial industry and series of bad loans problem in the country.

Asian Crisis 1990s

• The Asian financial crisis was a global crisis which destabilized its Asian economy at the end of the 1990s.

• The main causes of the Asian crisis is the difficultly in borrowing of dollars to subsidize their domestic industries.

• Other causes that contributed to the crisis include collapse of the currency exchange rate.

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