market model by studying the evolution of the financial sectors of Korea, Malaysia and Thailand. This includes sectoral …

It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial …-term performance of Thailand's financial system is favorable. The insight from moral hazard indicators is unexpected regarding the bad … explained in a framework of system change than by bad banking in Thailand. …

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 …