亚洲金融危机英文版.ppt

IMF History and Background 1944 – 44 governments establish a framework for global economic development. 1973 – currencies of major powers allowed to float 1997 – Asian Financial Crisis 2008 – IMF faces budget shortfall 2009 – G-20 London – members pledge （抵押）to increase supplemental cash to $500B 2010 – members agree to shift 6% voting shares to developing nations. Currently 187 member nations IMF and the Asian Financial Crisis Imposition of “Fast Track Capitalism” Liberalization of financial sectors Raise domestic interest rates bolstering bank capital Peg national currencies to the dollar to protect foreign investors “Conditionalities” and austerity measures inhibit the ability of countries to develop their home economies Encouraged devaluation of currencies making imports more expensive Became known as “Lender of Last Resort.” Interest rates above market average. Criticism of the IMF Largely controlled by developed nations “New Colonialism” austerity measures inhibit long term economic growth Western style economic reforms and greater ownership by foreign firms Monetarist priorities overlook public health, environment, and poverty Repayment policies do not foster long-term growth Conclusion 1. A government should settle its own policies to protect its economy structure. 2. Speculators seek weakness 3. The IMF: an antiquated(陈旧的) system Q A ?!? Asian Financial Crisis 目录 一.Asian financial crisis 1997 – 98 1.数据 2.概况 3.原因 4.影响 二.投机者-索罗斯 三.IMF的角色 四.经验教训 1997 亚洲金融风暴概况之 危机原因 新马泰日韩等国都为外向型经济的国家。他们对世界市场的依附很大。亚洲经济的动摇难免会出现牵一发而动全身的状况。 金融大鳄 一只假寐的老狼 个人价值观趋向 资本主义国家的默许 新中国成立预示着社会主义阵营的建立。美国，，有了危机感。他通过强大的经济后盾在亚太地区建立起一个资本主义的统一战线：韩国，日本，台湾直至东南亚，都成为美国的经济附庸。这给亚洲一些国家飞速发展带来了经济支持。 直接触发因素 内在基础性因素 世界经因素 equilibrium 由于国际方面的信贷繁荣和当局放宽对外国资本流入，导致外资流入增加。 通常情况下，资金会找到自己的方式，无论是实体经济的贷款给企业或的非生产性股票和房地产市场。 不幸的是，在这段时间的资金流入股市和房地产市场朝向。 下表显示了在1997年给予的贷款，物业部门和不良贷款的百分比。 可以看出，从上述四国受影响最严重的危机也配合他们的尊重银行业的不良贷款率最高。 金融危机对这些国家各自的国内生产总值增长的效果。 财政失衡是指付款余额为负值，一国偿还其债务的能力之间的差异。 资料来源：国际货币基金组织 上表显示出口