Author Description

The 1st report, using an early warning system (EWS) model, provides more empirical evidence on the causes of the 1997 Asian fin'l. crisis. There are strong warning signals of heightened fin'l. vulnerability in each of the 5 most affected countries from the EWS model prior to the crisis, suggesting that weaknesses in econ. and fin'l. fundamentals played an important role in triggering the crisis. The 2nd report examines the policy implications for opening of fin'l. serv. for 6 countries: the PRC, Indonesia, Rep. of Korea, Malaysia, Singapore, and Thailand. Examines the relationship between fin'l. serv. liberal'n. and cap. acct. liberal'n., GATS &/or multilateral commitments made by the countries, and progress in compliance of the commitments and their impact.