It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial institutions. The paper questions this proposition from an empirical viewpoint. It is well established that the long-term performance of Thailand's financial system is favorable. The...

This study is based on the premise that the success/failure of financial sector reforms depends heavily on country specific factors and makes an attempt to examine these factors in the Indian context. The financial sector reforms analysed in this paper include the deregulation of interest rates,...