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|Title:||Debt market regulation and the impact of Thailand's 1997 economic crisis|
|Citation:||Journal of the Asia Pacific Economy, 2001; 6(3):386-402|
|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|
|Appears in Collections:||Business School publications|
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