Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/1257
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Type: Journal article
Title: Debt market regulation and the impact of Thailand's 1997 economic crisis
Author: Lion, M.
Zurbrugg, R.
Citation: Journal of the Asia Pacific Economy, 2001; 6(3):386-402
Publisher: Routledge
Issue Date: 2001
ISSN: 1354-7860
1469-9648
Statement of
Responsibility: 
Michael Lion; Ralf Zurbruegg
Abstract: This paper examines the behaviour of Thailand's bank debt market during the onset of the 1997 economic crisis. By obtaining an estimate of the currency and country risk premia in this market, a picture of investor expectations is formed which demonstrates that the market failed to react speedily to the float of the baht and the subsequent turmoil which was associated with the onset of the crisis. These tests also demonstrate the effects of the regulatory conditions in Thailand's financial sector through their distortion of the market mechanism which led to distorted bank debt rates. A number of policy considerations are then discussed in light of this.
Keywords: Asia Pacific Studies; Economics; Political Economic Studies
Description: © Informa plc
RMID: 0020011936
DOI: 10.1080/13547860120097403
Appears in Collections:Business School publications

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