Private Capital Flows in the Age of Globalization: The Aftermath of the Asian Crisis

In the second half of 1997 Thailand, Malaysia, Korea and Indonesia experienced a massive outflow of foreign capital - more than $100 billion. The effects of this rival the worst years of the Latin American debt crisis and the early years of the Great Depression.

The Asian crisis demonstrates how interconnected the global economy has become, and this book is the first attempt, by an international group of experts, to understand the Asian financial crisis by taking into account the dynamics of...