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1、LOGOFinancial crisis in Indonesia ，Before 1997East Asian Tiger19891997 7% an average annual economic growth rate of 7%After 1997The most serious economic Downturn Devaluation Unemployment Inflation Capital fight causeInternal causes External Internal CausesvDeficit of current account vInflow and out
2、flow of large amounts of short-term funds vA huge short-term foreign debt vLow level of internal reserves vWeak industry competition vUnhealthy Financial Systems vInappropriate Deficit of current Inflow and outflow of large amounts of short-term A huge short-term foreign Low level of internal Weak i
3、ndustry competitionExport strategiesA surplus in supplyHaving no large amount of the foreign exchange reservesCould not move into new production industriesInefficient investment and unfair Unhealthy Financial Systemsthe amount of the foreign capital outflows more than the capital inflowsLack of Mark
4、et SurveillanceIcreasing the loss on loansInsufficient of the foreign exchange reservescurrency Inappropriate policiesvThe floating exchange rate systemvDevaluation of rupiahvIncreasing External CausesvGlobal industrial restructuringvAfter cold war, the adjustment of Global strategic structurevSpecu
5、lative Attack of hot Global industrial restructuringSupply exceeds demandAppearance of new products with the innovation and new After cold war, the adjustment of Global strategic structureRestrain the development of the national economy of the countries in southeast AsiaAvoid from southeast Asia cou
6、ntries by the Speculative Attack of hot moneyAbout $7 trillion in international floating capitalGeorge Soross Personal RCompany LogoResults: Foreign Exchange MarketFeb.11th Adopted Pegged Rate System1Feb.16th FX Rate fell below 10000:12Apr.8th New innovation Company LCompany LogoResults: Banking Mar
7、ketOct.31st 16 commercial banks closed down1May.17th Banks in Jakarta closed2Mar.13th 38 private banks closed down 3Mar. Bank Central Asia was Company LogoResults: Stock MarketStock Index was 718 in Jul. 19971Stock Index fell to 262 in Sep. 1998264% decrease of Stock ICompany LogoResults: Domestic E
8、conomyPer Capital GDP fell from $1050 to $435 1Economic Growth Rate was -13.69% 2CPI sharply increased to 60.7% Company LCompany LogoResults: PoliticsDiscrimination against the Chinese123Central bank chiefs was relievedPresident Soeharto The financial crisis of the solution and CommentThree differen
9、t methods1.IMF: Signed the first letter of intent; To increase labor productivity and production efficiency To develop market infrastructure Closing insolvent banks Cut back on infrastructure projects spending2.CBS:Using the CBS instead of the IMF letter; Rupiah pegs to the dollar To regulate the sh
10、ort-term capital inflows and outflowsXX3.IMF: Signed the second letter of intent.Monetary accumulationFinancial projectsForeign economic projectSocial security systemTo strengthen the market based organizationThe financial crisis of the solutionThe financial crisis of the solution and CThe financial
11、 crisis of the solution2. Fiscal policy To redefine the scope of government management3. Ensure that poor basic income short-term plan Improve basic income4. Processing due debts Temporary debt relief1.Monetary policy Budget surplus Price subsidies the export products; The liberalization of trade po
12、licy measuresThe financial crisis of the solution and C5. Bank reconstruction plan Strengthen the banks capital base To strengthen the management of the banking system Commercial bank officials are required the business test6. Consolidate basic market policy measures To eliminate corruption Improvin
13、g domestic competition policy The state-owned enterprise privatization Speed up trade and policy reform Consolidated accounting and legal system Improving market transparencyThe financial crisis of the solutionThe financial crisis of the CommentsA powerful banking systemA perfect macro-economic management system Macroeconomic Stability Microeconomic stabilityThe prudential regulation of banksStrengthening the legal framework LOGO
