Financial liberalization and the capital account
Subtitle: Thailand, 1988-1997
By: by Pedro Alba, Leonardo Hernandez, Daniela Klingebiel.
Contributors: Hernández, Leonardo.; Klingebiel, Daniela.; World Bank. Poverty Reduction and Economic Management. Economic Policy Division.; World Bank. Financial Sector Strategy and Policy Group.
Series: Policy research working paper ;; 2188; Policy research working papers ;; 2188.
Publisher: World Bank, Poverty Reduction and Economic Management Network, Economic Policy Division; Financial Sector Strategy and Policy Dept.
Published: 1999
Place of publication: Washington, DC (1818 H St., NW, Washington 20433)
Language: eng
Number of pages: 61
Subjects: Financial crises -- Thailand.; Debt -- Thailand.; Investments -- Thailand.; Monetary policy -- Thailand.; Banks and banking -- Thailand.
Description: Thailand's economic crisis in 1997 was fundamentally one of private sector debt, rooted in private behavior that affected the magnitude and composition of investment and how it was financed.  Thailand's crisis provides further evidence that financial liberalization must be carefully managed because, by increasing competition, it lowers the franchise value of existing financial institutions and creates incentives for unsound banking practices.
Notes: Includes bibliographical references (p. 50-52).
"September 1999"--Cover.
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