type="main" xml:lang="en" <p>We examine whether the enforcement of bank capital asset requirements (CARs) curtailed the supply of credit in emerging economies. Preliminarily, we identify 16 emerging economies that – according to official and impartial reports – enforced the 1988 Basel standard...</p>

type="main" xml:lang="en" <p>The paper demonstrates that Korean small and medium-sized enterprises (SMEs) suffered disproportionately from the crisis and the severe monetary restriction. The descriptive analysis suggests that disruptions in credit markets were particularly pronounced for SMEs. The...</p>

type="main" xml:lang="en" <p>We demonstrate that credit rating agencies aggravated the East Asian crisis. In fact, having failed to predict the emergence of the crisis, rating agencies became excessively conservative. They downgraded East Asian crisis countries more than the worsening in these...</p>

type="main" xml:lang="en" <p>We demonstrate that the credit channel of transmission of monetary/financial shocks appears to have aggravated Korea's economic crisis. We use micro-data gathered at the individual bank level to identify this channel of transmission. Our major findings are as follows:...</p>

Difficulties in implementing effective liquidity support - to counter speculative attacks - may partly explain why regional exchange rate agreements crawl regional trade integration. Our novel analysis of the European Monetary System confirms that liquidity support was provided under the...

Book reviewed in this article: Copyright Banca Monte dei Paschi di Siena SpA, 2003