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10 Years after the Crisis: Thailand's Financial System Reform

Listed author(s):
  • Menkhoff, Lukas
  • Suwanaporn, Chodechai

This paper uses the framework of long-term financial system development to describe and assess the reform process in Thailand after 1997. The present financial reforms are well in line with the pattern of financial development found in the academic literature. A detailed analysis of capital markets, specialized financial institutions and supervisory regulation shows recent advancements and open issues. The rapid rise of non-banks financial institutions can serve as a paradigmatic example of market driven dynamism requiring appropriate policy action. Overall, the building of modern and sophisticated financial institutions is an ongoing process which should consider human resource constraints.

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File URL: http://diskussionspapiere.wiwi.uni-hannover.de/pdf_bib/dp-356.pdf
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Paper provided by Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät in its series Hannover Economic Papers (HEP) with number dp-356.

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Length: 25 pages
Date of creation: Jan 2007
Handle: RePEc:han:dpaper:dp-356
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Web page: http://www.wiwi.uni-hannover.de

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  1. Levine, Ross, 2002. "Bank-Based or Market-Based Financial Systems: Which Is Better?," Journal of Financial Intermediation, Elsevier, vol. 11(4), pages 398-428, October.
  2. Levine, Ross & Zervos, Sara, 1996. "Stock markets, banks, and economic growth," Policy Research Working Paper Series 1690, The World Bank.
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  8. Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
  9. Paulson, Anna L. & Townsend, Robert, 2004. "Entrepreneurship and financial constraints in Thailand," Journal of Corporate Finance, Elsevier, vol. 10(2), pages 229-262, March.
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  13. Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
  14. Menkhoff, Lukas & Suwanaporn, Chodechai, 2003. "The Rationale Of Bank Lending In Pre-Crisis Thailand," Discussion Papers 18733, University of Bonn, Center for Development Research (ZEF).
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  17. Menkhoff, Lukas & Neuberger, Doris & Suwanaporn, Chodechai, 2006. "Collateral-based lending in emerging markets: Evidence from Thailand," Journal of Banking & Finance, Elsevier, vol. 30(1), pages 1-21, January.
  18. Michael Graff & Alexander Karmann, 2006. "What Determines the Finance-growth Nexus? Empirical Evidence for Threshold Models," Journal of Economics, Springer, vol. 87(2), pages 127-157, 03.
  19. Krongkaew, Medhi & Kakwani, Nanak, 2003. "The growth-equity trade-off in modern economic development: the case of Thailand," Journal of Asian Economics, Elsevier, vol. 14(5), pages 735-757, October.
  20. Andy Mullineux & Victor Murinde & Adisorn Pinijkulviwat, 2003. "Financial reform in Thailand," Chapters, in: The International Handbook on Financial Reform, chapter 10 Edward Elgar Publishing.
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  24. Obadan, Mike I., 2006. "Globalization of finance and the challenge of national financial sector development," Journal of Asian Economics, Elsevier, vol. 17(2), pages 316-332, April.
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