## Asian Financial crises: Origins, implications and solutions

_Books, January 16, 2001_

## Source details

**Canonical URL:** [Asian Financial crises: Origins, implications and solutions](https://www.imf.org/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446)

## Other formats

- [Markdown version](/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446/index.md)
- [Structured JSON version](/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446/index.json)
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## Bibliographic details
- Published: January 16, 2001
- Series: Books
- DOI: https://doi.org/10.5089/9781451965476.071

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### Summary
- 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.

### Key findings and observations
- 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:
  - weak accounting and disclosure practices of banks and nonbanks, and
  - generous rollovers of banks to their key clients.

### Subjects and keywords
- 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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_Source: https://www.imf.org/en/publications/books/issues/2016/12/31/asian-financial-crises-origins-implications-and-solutions-20446_