ABSTRACT
The states of Southeast Asia, which are part of the Association of Southeast Asian Nations (ASEAN) established in 1967, provide an interesting case study of regional economic crisis typology. Rapid economic development and structural change have characterised the ASEAN region since 1960. It was there that the first major economic crisis hit the modern Southeast Asian economy. In 19978, Thailand, Indonesia and South Korea foremost became involved in the third major economic crisis in Southeast Asia, labelled as the Asian Crisis. By taking these three major crises as a basis for analysis, we can develop a better understanding of the causes, dynamics and consequences of economic crisis in the world region of Southeast Asia. Even before the outbreak of the Asian crisis the Malaysian economist Jomo K. S. expressed doubts about the way in which neo-liberals heralded the economic growth of Southeast Asia as a result of the workings of the free market.
