Asian Financial crises: Origins, implications and solutions

January 16, 2001

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Asian Financial crises: Origins, implications and solutions, (USA: International Monetary Fund, 2001) accessed December 26, 2024

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.

Subject: Banking, Commercial banks, Currency crises, Financial crises, Financial institutions, Financial sector policy and analysis, Loans, Moral hazard

Keywords: Africa, Asia and Pacific, Bank capital, Bank depositor, BOOK, Caribbean, Commercial banks, Currency crises, East Asia, Global, IMF official, Loans, Market participant, Moral hazard, South America, Southeast Asia, Support package

Publication Details

Pages:

542
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AFCOEA0000000
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