After the meltdown

The Asian financial crisis of 1997-98 led to bank closures and mergers across the Asia-Pacific. Kym Brown and Michael Skully examined banks in 12 of the regions economies post meltdown to see how theyve bounced back. Despite their natural contrariness, most economists agree that the 1997-98 Asian crisis started with the devaluation of the Thai baht on 2 July 1997 which set off a domino effect of Asian-investor panic and a subsequent flight of funds. Financial regulations and practices were tightened in the aftermath to prevent another occurrence; however a gap remains in understanding the regions banks in the post-crisis period. Copyright 2006 Kym Brown and Michael Skully. No part of this article may be reproduced by any means without the written consent of the publisher.