Charumilind, Chutatong; Kali, Raja; Wiwattanakantang, Yupana - Center for Economic Institutions, Institute of Economic … - 2003
The allocation of credit by banks and financial institutions on 'soft' terms to friends and relatives rather than on the basis of 'hard' market criteria in the years leading up to the East Asian crisis of 1997-98 has been widely noted. Using a detailed dataset on Thai firms prior to the crisis...