What was the official name of the 1997 Asian stock-market crisis that began with Thailand's baht devaluation?

The official name of the 1997 Asian stock-market crisis that began with Thailand’s baht devaluation was the Asian financial crisis.

Thailand abandoned its fixed exchange-rate defense and allowed the baht to float on July 2, 1997. The currency then fell sharply, exposing heavy foreign-currency debts and weaknesses in Thailand’s financial system. Investor confidence deteriorated and pressure spread to other economies.

Indonesia, South Korea, Malaysia, and the Philippines were among the countries hit severely. Stock markets and currencies fell, companies and banks failed, and several governments accepted assistance coordinated through the International Monetary Fund. Russia and Brazil later experienced related global-market turbulence, though their crises had distinct domestic causes.

The crisis was not simply a stock-market event. Exchange-rate pegs, short-term foreign borrowing, property speculation, weak regulation, and rapid capital flight all played important roles. Thailand’s devaluation is the clearest starting point, while the broader crisis unfolded across the region.