Complex sentence: Given the limited access of emerging markets to world capital markets, illiquidity resulting from contemporaneous loss of domestic and foreign investor confidence is nearly sufficient to cause a financial and currency crises, the 1997 Asian financial crisis being one example.
Split into simpler sentences: Given the limited access of emerging markets to world capital markets, illiquidity is nearly sufficient to cause a financial crisis in such economies. Loss of investor confidence in such emerging economies typically results in financial and currency crises, the 1997 Asian financial crisis being one example.