The Asian financial crisis of 1997-1998 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy responses to finansial crisis.
this paper reviews the experience of this crisis, focusing on the overall strategy of crisis management and the way that strategy was implemented, including with regard to official and private financing, structural reforms, and monetary and fiscal policies.
Analysis:
Abstact is the most important aspects of research that we want to communicate to our audience. In my opinion, this abstract has almost qualified as a correct abstract requirement because this abstract just write down certain aspects and can give illustration about this paper, so before reader read the paper overall, they already known what this paper talking about. The weakness this abstract is it didn't describing about methodology or results about this paper.
2) Discussion
This paper is consists of 7 Section. The first section is about Introduction. In intruduction, it tell about what this paper talking about and why the writer choose this topic and background of the topic and the structured of this paper. This paper have 8 section that every section discuss about different topic.
Second section is about The Strategy of The Programs. This section discuss about financial sector is become vulnerabillity at the root of the Asian crisis. They talking about how financial sector is become vulnerabillity at the root of the Asian crisis, and then two main types of vulnerabillity and then the policies that applied for that problem, and talking about future IMF also.
Third section is talking about The Evolution of The Crisis. This section is talking about how countries like Philipine, Indonesia, Malaysia can be out of the crisis.
Fourth section is talking about Program Financing. This section is talking about strategy for paid to their financing. There is had two components. The first is official financing, private sector involvment.
Fifth section is talking about Monetary Policy. This section is talking about monetary policy from IMF to supported programs in the Asian crisis countries and how to implemented at the every countries. This section also talking about how tight were monetary polices, credit crunch, monetary tightening counterproductive.
Sixth section is about Fiscal Policy. This section is talking about fiscal policy from IMF to supported programs in the Asian crisis countries.
And the last section is talking about Structural Reforms. This section is talking about what the reason we must change the structural reforms and chage about the structural.
Fourth section is talking about Program Financing. This section is talking about strategy for paid to their financing. There is had two components. The first is official financing, private sector involvment.
Fifth section is talking about Monetary Policy. This section is talking about monetary policy from IMF to supported programs in the Asian crisis countries and how to implemented at the every countries. This section also talking about how tight were monetary polices, credit crunch, monetary tightening counterproductive.
Sixth section is about Fiscal Policy. This section is talking about fiscal policy from IMF to supported programs in the Asian crisis countries.
And the last section is talking about Structural Reforms. This section is talking about what the reason we must change the structural reforms and chage about the structural.
3) Analysis of paragraph
In my opinion, most of the paragraph type that used in this paper is deductive because this paper telling about the topic at the beginning of the paragraph and give explanation at the next paragraph. For examplee I choose paragraph 80. This paragraph is talking about financial and corporate restructuring in Korea and Thailand and the point of paragraph located at first sentence and the next sentence is explain about what the reason financial and corporate restructuring become important areas of structural reform in the Asian crisis countries and why it can be happened and the impact.
4) Conclusion
This paper has examined a variety of aspects of the policy response to the crisis in East Asia, discussing about the strategy and how that implemented. The most general question is whether the overall strategy for responding to the crisis in the context of IMF-supported programs was appropriate. There are also lessons regarding the macroeconomic and structural policies introduced during the crisis. And the experience shows that managing a capital account crisis is an inherently much messier and more protracted than a conventional balance of payment crisis.
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