1. Introduction What caused the large exchange rate depreciations and stock market declines in some Asian countries during 1997}98? The three main explanations for the `Asian crisisa emphasize macroeconomic and banking issues.
1. IntroductionWhat caused the large exchange rate depreciations and stock market declinesin some Asian countries during 1997}98? The three main explanations for the`Asian crisisa emphasize macroeconomic and banking issues.