The economy of Taipei,China was able to escape the contagion of the Asian financial crisis and remains well insulated from the type of external shocks that forced other economies in the region into currency devaluations and deep recession in 1997. Since that time however, internal pressures have...

First, using data on the presence of foreign banks via branching as well as subsidiaries, the study shows that the presence of foreign banks in the four crisis-hit countries is actually much larger than has been previously reported once the presence of foreign branches is accounted for in the...