McKinsey Leverages Asian Financial Crisis for Consulting Expansion

| Importance: 9/10 | Status: validated

During the 1997-1998 Asian Financial Crisis, McKinsey & Company positioned itself strategically to provide consulting services to governments and financial institutions undergoing IMF-mandated structural reforms. The crisis triggered widespread economic restructuring in Thailand, Indonesia, and South Korea, involving financial sector reforms, corporate governance improvements, and macroeconomic policy adjustments. McKinsey’s consulting contracts capitalized on these transformation opportunities, helping design and implement ‘international best practices’ for banking, corporate governance, and economic liberalization.

Key Actors

McKinsey & Company IMF World Bank Thailand Government Indonesia Government South Korea Government

Tags

mckinsey consulting structural-adjustment economic-shock-therapy asian-financial-crisis imf-intervention corporate-restructuring

Sources (3)

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