The Asian disease: Plausible diagnoses, possible remedies. Regulation of cross-border interbank lending and derivatives trade

Bericht

Asia presents a cumulation of apparently rational decisions that produced disastrous results - a textbook illustration of financial instability developing from the economics of euphoria. A combination of factors produced the crisis as enormous capital inflows were drawn to the Asian miracle-pegged exchange rates with fluctuating interest rates, integrated economies, moral hazard created by central banks, and short-term lending and derivatives trade without sufficient evaluation of risk and credit analysis of borrowers. The Asian tragedy demonstrates the need for improved regulation of cross-border interbank lending, improved accounting for both borrowers and lenders, and separation of the close links between governments and their banking sector.

Object Details

• ISBN: 0941276538
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Public Policy Brief ; No. 44

Classification and Topics

• Classification: Wirtschaft

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Mayer, Martin
• Event: Veröffentlichung
• (who): Levy Economics Institute of Bard College
• (where): Annandale-on-Hudson, NY
• (when): 1998

Further information

• Handle: http://hdl.handle.net/10419/54235
• Last update: 10.03.2025, 11:43 AM CET