The causes of the Asian crisisThe causes of the Asian crisis. There is much speculation about the causes of the Asian crisis. From my research I found that there are several reasons for the Asian currency crisis. There is a book called; TheEast Asian Miracle, published by the World Bank. This book expressed the relationship between government, private sector and market. (See Hoover Digest 1998 No.3. William McGurn. What went wrong?) The book is about the economic blossoming in Southeast Asia. East Asian countries borrowed large sums of money from the International Monetary Fund and the World Bank and used it to create a better economy. I found that the following countries, due to their recurrence during my research, experienced flowering. The countries are listed: South Korea, Indonesia, Hong Kong, Thailand, Malaysia, Philippines, Singapore and Taiwan. These countries have seen remarkable growth, growth that has even doubled growth in the rest of East Asia and nearly tripled growth. in Latin America. The economic miracle began in South Korea, Hong Kong, Taiwan and Singapore, then in Malaysia, Thailand, Indonesia and the Philippines. These… half of the card… Orea's was slipping. It seemed that the larger the current account deficit, the more difficult it would be for the IMF to find a solution. Another is that each country asked the IMF for help at different times. Thailand called when most of its usable reserves had been depleted and Korea called when it was nearly drowning in the problem. These were the probable causes of the Asian financial crisis that I discovered from my research. Some say the IMF is responsible for the problems but from this analysis of the speech by Stanley Fischer, a representative of the IMF, they don't think they are responsible..