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history of economic crisis and currency devaluations

Page history last edited by Brian D Butler 13 years, 4 months ago

 

Related pages from Globo Trends:

 

 

 

 

 

 

 

 

Table of Contents:


 

see document here: http://www.scribd.com/doc/9376716/Financial-Crises-Past-Present

charts & graphs:  comparing crisis 09 to past:  http://www.cfr.org/content/publications/attachments/2009OutlookFinal_Long.pdf

 

 

Banking Crises

 

see our discussion on banking crisis

 

History of Crises

 

 

Stock Market Crash of 1929, also called the Great Crash or the Wall Street Crash, leading to the Great Depression

 

 

1960's  - Vietnam War

 

Latin America crisis

 

If there is an economic crisis…military steps in, fixes things, then goes back to barracks, but in 1960’s…what happened, was the military regimes didn’t leave.    But, instead of solving, in this time, they made things worse….in Brazil…disaster…military didn’t stop spending..They spent more, and borrowed more…and also were brutal.   In 60’s this was a theme.
 

 

1973 - oil crisis

 

Stock market crash of 1973–4

 

 

1979-1980 - energy crisis

 

 

Early 1980s recession - 1982 and 1983, caused by tight monetary policy in the U.S. to control inflation and sharp correction to overproduction of the previous decade which had been masked by inflation

 

 

Great Commodities Depression - 1980 to 2000, general recession in commodity prices

 

 

 

Latin America debt crisis - 1980s  -

 

 

Mexico 1982 - default on debt....led to many other Latin Crisis...and "lost decade"

 

 

Black Monday - October 19, 1987

 

Black monday:  lessons & analysis from FT.com 'Short View'

http://www.ft.com/cms/bfba2c48-5588-11dc-b971-0000779fd2ac.html?_i_referralObject=567134059&fromSearch=n

 

 

 

 

Early 1990s recession - 1990 to 1992, collapse of junk bonds and a credit crunch in the United States leads to one quarter of US GDP decline, and therefore not an official recession.

 

 

 

Japanese recession - 1990 to 2003, collapse of a real estate bubble and more fundamental problems halts Japan's once astronomical growth

 

 

 

United Kingdom - 1992  - when George Soros "broke the bank of England" by currency speculating against the European currency unit peg

 

 

Mexico crisis 1994   -  http://en.wikipedia.org/wiki/1994_economic_crisis_in_Mexico

 

 

Asian Crisis 1997

SE Asia Crisis - 1997 & 1998   http://en.wikipedia.org/wiki/Asian_financial_crisis

 

 

South Korea - 1998 

 

 

Russia - 1998  http://en.wikipedia.org/wiki/Russian_financial_crisis

 

 

USA - Long term capital managment - hedge fund meltdown -  1998 -  causes were SE Asia Crisis of 1997, and Russia crisis of 1998

http://en.wikipedia.org/wiki/Long-Term_Capital_Management

 

 

Brazil - 1999  -  currency Real was pegged to US dollar, then forced to float

 

 

Early 2000s recession - 2001 to 2003: the collapse of the Dot Com Bubble, September 11th attacks and accounting scandals contribute to a relatively mild contraction in the North American economy

 

 

 

Argentina 2001 -2002

 

Uruguay 2002

 

USA - subprime crisis / credit crunch - 2007

 

 

 

 

 

 

 

Global macro economic events that effected Argentina

 
 
1.  The USD appreciated, pulling the peso up with it.
                *  vs the Japanese Yen after 1995 (why? due to earthquake?)
                *  vs currencies of SE Asia after 1997 (crisis of 1997 and 1998)
                *  vs european currencies in 1999 and 2000
 
2.  Commodities prices were low 
                * terms of trade = negative
 
3.  Brazilian currency devalued in 1999
                * making Argentinian exports to Brazil non-competitive, and flooding the Argentinian market with Brazilian imports
 
 
 

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