Prepared by Markus Rodlauer.
Including the second oil price shock, a hike in world interest rates, recession in industrialized countries, and the Latin American debt crisis.
A financial scandal in 1981 and the assassination of Ninoy Aquino in 1983.
Including a major earthquake, drought, and a volcanic disaster.
Following the introduction of capital controls in Malaysia and Russia’s default on part of its government debt.
On a seasonally adjusted quarter-to-quarter basis, real GDP growth decelerated sharply in the second half of 1997 (to an annual rate of 1½ percent).
Presidential and legislative elections were held in May 1998, and President Estrada, his government, and a new Congress took office in July.