Publication Code: M64

Table of Contents

I. Excess Volatility and Crises

I.1: Long-Run Patterns of the Thai Economy
I.2: Aggregate Volatility, Growth, and Persistence

II. Structural Factors, Shocks, and Excess Volatility

II.1: Relationship between Thailand and the Global Economy
II.2: Stabilization and Adjustment Policies
II.3: Diversified Economic Structure
II.4: Volatility of Trade and Capital Flows

III. Financial Market Failures, Transmission Mechanisms, and Crisis

III.1: Finance Company Crises (1979-1983)
III.2: Crisis of alternative Remittance Systems (1984)
III.3: Commercial Banking Problems (1984-1987)
III.4: Underlying Deficiencies in the Financial System

IV. Crises, Domestic Financial Architecture, and Linkages to International Financial Architecture

IV.1: Thailand's Domestic Financial System
IV.2: Financial Liberalization (1989-1994)
IV.3: Economic and Financial Crises (1997)
IV.4: Impacts of the Crisis: Intricacies and Reforms
IV.5: Valuable Lessons and Adjustments
IV.6: Financial Sector Master Plan

V. Conclusions

References