Asian Financial crises: Origins, implications and solutions
Summary:
This paper analyzes the origins, implications, and solutions for the Asian financial crisis. From the perspective of a member of the Executive Board of the IMF, as Asian problems were building, the IMF overlooked weaknesses in bank and corporate balance sheets in much of Asia: the IMF was unaware of the extraordinary leverage of Korean companies, which in some cases reached a ratio of 600/1 debt to equity. The IMF did not focus on the weak accounting and disclosure practices of banks and nonbanks or generous rollovers of banks to their key clients.
Series:
Books
Subject:
Banking Commercial banks Currency crises Financial crises Financial institutions Financial sector policy and analysis Loans Moral hazard
English
Publication Date:
January 16, 2001
ISBN/ISSN:
9781451965476
Stock No:
AFCOEA0000000
Pages:
542
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