It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial institutions. The article questions this proposition from an empirical viewpoint. It is argued that the facts provided can be better explained in a framework of system change than by...

It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial institutions. The paper questions this proposition from an empirical viewpoint. It is well established that the long-term performance of Thailand's financial system is favorable. The...

Prior to the global financial crisis of 2008, the UK had the largest banking sector asset to GDP ratio among large countries, and had experienced rapid real property price increases as well as a persistent current account deficit in the preceding decade. These factors, together with its role as...