Tanboon, Surach; Piamchol, Suchot; Ruenbanterng, Tanawat; … - Bank of Thailand - 2009
This paper illustrates that ?nancial conditions are not simply a re?ection of macroeconomic developments. In fact, one feeds the other, and both are mutually dependent. Adverse ?nancial conditions have the potential to exacerbate negative disturbances on the real economy| converting the initial...