Asian Financial crises: Origins, implications and solutions
January 16, 2001
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This paper analyzes the origins, implications, and solutions for the Asian financial crisis. From the perspective of a member of the Executive Board of the IMF, as Asian problems were building, the IMF overlooked weaknesses in bank and corporate balance sheets in much of Asia: the IMF was unaware of the extraordinary leverage of Korean companies, which in some cases reached a ratio of 600/1 debt to equity. The IMF did not focus on the weak accounting and disclosure practices of banks and nonbanks or generous rollovers of banks to their key clients.
Subject: Banking, Commercial banks, Currency crises, Financial crises, Financial institutions, Financial sector policy and analysis, Loans, Moral hazard
Keywords: Africa, Asia and Pacific, bank capital, bank depositor, BOOK, Caribbean, Commercial banks, Currency crises, East Asia, Global, IMF official, Loans, market participant, Moral hazard, South America, Southeast Asia, support package
Pages:
542
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Books
Stock No:
AFCOEA0000000
ISBN:
9781451965476
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