Containing The Risks of Future Crises: Strengthening the Regulatory Framework
As we learned on the first day of this conference, the causes of the Asian crisis are manifold. Judging from the fact that financial systems in many of the countries involved in the crisis came to the brink of collapse or in some cases actually collapsed, I think it is fair to conclude that failing banking supervision plays a major part in explaining the crisis. The events in Asia have once again proven that exposing poorly regulated and supervised financial systems to huge global capital flows is a hazardous act.
KeywordsManifold Income Malaysia Conglomerate Indonesia
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