{
  "title": "Asian Financial crises: Origins, implications and solutions",
  "publication": "Books, January 16, 2001",
  "sourceUrl": "https://www.imf.org/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446",
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  "summary": "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",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Paper analyzes the origins, implications, and solutions for the Asian financial crisis.\n- Perspective: a member of the Executive Board of the IMF.\n- Core critique: as Asian problems were building, the IMF overlooked weaknesses in bank and corporate balance sheets in much of Asia."
    },
    {
      "heading": "Key findings and observations",
      "content": "- The IMF was unaware of the extraordinary leverage of Korean companies, which in some cases reached a ratio of 600/1 debt to equity.\n- The IMF did not focus on:\n  - weak accounting and disclosure practices of banks and nonbanks, and\n  - generous rollovers of banks to their key clients."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Banking; Commercial banks; Currency crises; Financial crises; Financial institutions; Financial sector policy and analysis; Loans; Moral hazard.\n- 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.\n\n---\n\n\nSource: https://www.imf.org/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446"
    }
  ],
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    "[Markdown version](/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446/index.md)",
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    "Published: January 16, 2001",
    "Series: Books",
    "DOI: https://doi.org/10.5089/9781451965476.071",
    "Paper analyzes the origins, implications, and solutions for the Asian financial crisis.",
    "Perspective: a member of the Executive Board of the IMF.",
    "Core critique: 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:",
    "Subjects: 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."
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}