The Asian Financial Crisis : Causes, Cures, and Systemic Implications

Preface vii(4) Acknowledgments xi 1 Introduction 1(6) 2 Origins of the Crisis 7(16) Financial-Sector Weaknesses 7(7) External-Sector Problems 14(3) Contagion 17(6) 3 How to Fix It 23(22) Restructuring and Reform of Financial Sectors and Prudential Oversight in the ASEAN-4 Economies and South Korea 23(3) Exchange Rate Policies in Asia and Trade Policies in the G-7 26(2) Japan's Role 28(2) China's Role 30(1) IMF Rescue Packages 31(14) 4 Halifax II Reforms 45(20) Moral Hazard and Debt Rescheduling 46(7) Prudential/Supervisory Standards 53(4) Transparency and Disclosure in International Financial Markets 57(2) IMF Surveillance 59(3) Risk Management in Global Financial Institutions 62(3) 5 Lessons of the Asian Crisis and Concluding Remarks 65(4) Appendix List of Core Principles for Effective Banking Supervision 69(4) References 73