This paper has three objectives. First, to explain what led to the crisis in the East and the South East Asia in the 1990s and how did this spread throughout the region; second, to analyse the lessons that can be learned from this crisis to prevent it from reoccurring in the future, and third,...

The paper aims to enhance the existing literature on the debt-growth nexus by analysing the relationship in two separate country groups using the extreme bounds analysis for sensitivity tests and the mixed, fixed, and random coefficient approach that allows for heterogeneity in the causal...