Table 1 shows that net private capital flows into the five most affected Asian economies (South
Korea, Indonesia, Thailand, Malaysia, and the Philippines) jumped from $37.9 billion in 1994 to
$97.1 billion in 1996. The bulk of these new inflows came as loans from private creditors
(commercial banks plus non-bank creditors, such as bond-holders), which tripled in just two years
from $25.8 billion to $78.4 billion.