Contagious Asian Crisis: Bank Lending and Capital Inflows

Saleheen Khan ()
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Saleheen Khan: Minnesota State University, Postal: Department of Economics Minnesota State University 121 Morris Hall Mankato, MN 56001

Journal of Economic Integration, 2004, vol. 19, 519-535

Abstract: This paper presents empirical evidence that bank lending, and capital inflows can explain the severity of the Asian crisis of 1997 above and beyond macroeconomic fundamentals. We find that countries that share Japanese banks as their major lender with Thailand, the first victim in the Asian crisis, tend to experience currency crisis. We also find evidence that link short-term capital inflows to the severity of the Asian crisis.

Keywords: exchange rate; currency crisis; and capital inflows (search for similar items in EconPapers)
JEL-codes: F30 F31 F32 F34 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0297

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