Bad banking in Thailand? An empirical analysis of macro indicators

It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial institutions. The article questions this proposition from an empirical viewpoint. It is well established that the long-term performance of Thailand's financial system is favourabl...

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Bibliographic Details
Published inThe Journal of development studies Vol. 36; no. 5; pp. 135 - 168
Main Author Menkhoff, Lukas
Format Journal Article
LanguageEnglish
Published London Taylor & Francis Group 01.06.2000
Taylor and Francis Journals
F. Cass
Taylor & Francis Ltd
SeriesThe Journal of Development Studies
Subjects
Analysis
Banking
Banking industry
Banks
Capitalism
Crisis
Economic performance
Economics
Empirical research
Financial institutions
Financial liberalization
Financial services
Financial systems
Macroeconomics
Moral hazard
Relationship banking
Thailand
Thailand
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Summary:It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial institutions. The article questions this proposition from an empirical viewpoint. It is well established that the long-term performance of Thailand's financial system is favourable. The insight from moral hazard indicators is unexpected regarding the bad banking proposition, although not compelling. Finally, the liberalisation process produced inadequately addressed risks. However, this also applies to experienced and well-regulated foreign banks. It is argued that the facts provided can be better explained in a framework of system change than by bad banking in Thailand.
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ISSN:0022-0388
1743-9140
DOI:10.1080/00220380008422649