Capital account liberalization and its role in Thailand's currency crisis.
Hu, Chia Chih.
Date of Issue1999
College of Business (Nanyang Business School)
Based on the literature on the pros and cons of capital account liberalization, this paper centers on its role in Thailand's currency crisis. Thailand's currency crisis was caused by the weakness on two main categories: external factors and unsound macroeconomic policies. Under these weaknesses, capital account liberalization, which links domestic financial markets with international capital markets more closely, had made Thailand's capital market fluctuate severely with the shifts in foreign investors' sentiment and confidence.
Nanyang Technological University