The financial crisis in Thailand: Causes, conduct and consequences?

被引：32

作者：

Lauridsen, LS ^{[1
]}

机构：

[1] Roskilde Univ, Roskilde, Denmark

来源：

WORLD DEVELOPMENT | 1998年 / 26卷 / 08期

关键词：

ASEAN; Thailand; exchange rates; boom/bust cycle; financial policy; credit;

D O I：

10.1016/S0305-750X(98)00069-2

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

The financial crisis in Thailand was a "private sector failure," expressing itself partly in increasing current account problems but mainly in careless lending/borrowing and the accumulation of nonperforming loans in the financial sector. During a period when the real economy showed signs of weakening with sluggish exports and an increase in the current account deficit, "hot money" flowed in and covered the deficit, but also led to careless investments. Financial liberalization in an uncontrolled financial sector resulted in misallocation and mismatching. Political instability, indecisiveness and mismanagement at the political and administrative level also contributed to the financial meltdown in Thailand. (C) 1998 Elsevier Science Ltd. All rights reserved.

引用

页码：1575 / 1591

页数：17