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demand-driven. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the … an “involuntary” accumulation of excess reserves. The results for Thailand suggest that the contraction in bank lending …
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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 …
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