Comments: The Case of Thailand
Author:
Kiettisak Meecharoen
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Language:
English
Print Publication Date:
18 Dec 2000
Keywords:
BOOK; crisis; financing; exchange rate; market; financial system; IMF policy advice; IMF Policy recommendation; IMF reform; emerging market crisis; emerging market country; Exchange rates; Emerging and frontier financial markets; Capital flows; Currencies; Global; Asia and Pacific; East Asia; Europe; Southeast Asia; IMF team; IMF recommendation; IMF's Policy recommendation; IMF's recommendation; IMF's role; Financial sector

Abstract

Thailand received financial assistance from the IMF following its severe economic and financial crisis, with the belief that strict adherence to the IMF advice would eventually steer the country out of the crisis. The IMF gave Thailand technical advice and financial assistance in good faith, with the aim of bringing about a sustained recovery. The extent of the crisis was unexpectedly severe, however, and the international financial market grew turbulent following the swift diffusion of Thailand’s crisis to other countries. Investors thus became risk averse and engaged in a flight to quality.

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Cover Reforming the International Monetary and Financial System
Reforming the International Monetary and Financial System
ISBN:
9781557758354
Publication Date:
18 Dec 2000
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557758354.071
Pages:
448
Front Matter
Part I. Key Issues of Reform
Part II. Maintaining Stability Under High Capital Mobility
3 The Euro, Yen, and Dollar: Making the Case Against Benign Neglect
Comments: Let Exchange Rates Float
Comments: Foreign Exchange Origins of Japan’s Liquidity Trap
Comments: The Case for Benign Neglect
4 Moderating Fluctuations in Capital Flows to Emerging Market Economies
Comments: Lessons from the Czech Experience
Comments: Emerging Market Crises: Origins and Remedies
Comments: Who Is to Blame for the Crises?
Comments: Policy Options for Capital Importers
5 When Capital Inflows Suddenly Stop: Consequences and Policy Options
comments: The Balance Between Adjustment and Financing
Comments: The Balance Between Structural and Macroeconomic Adjustment
Comments: Can the Right Balance Be Achieved?
Comments: On Dysfunctional Adjustment and Financing
6 Is Greater Private Sector Burden Sharing Impossible?
Comments: Private Sector Participation in Crisis Prevention and Resolution
Comments: On Debt Management and Collective-Action Clauses
Comments: More Private Sector Involvement and Less Official Financing
Comments: Private Sector Burden Sharing
Part III. The Role of the International Monetary Fund
Part IV. Conclusion
Back Matter