Moreno, R.; Pasadilla, G.; Remolona, E. - Economisch Institut voor het Midden en Kleinbedrijf- - 1998
This paper argues that fundamental weaknesses in Asian financial systems that had been masked by rapid growth were at the root of East Asia's 1997 currency and financial crisis. These weaknesses were caused by the lack of incentives for effective risk management created by implicit or explicit...