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Article: Recapitalization of Thailand's banks after the 1997 crisis: Interpretation and critique from a neo-institutional perspective

TitleRecapitalization of Thailand's banks after the 1997 crisis: Interpretation and critique from a neo-institutional perspective
Authors
Keywords1997 financial crisis
Commercial banks
Neo-institutional policies
Property rights
Recapitalization
Thailand
Issue Date2005
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/13602381.asp
Citation
Asia Pacific Business Review, 2005, v. 11 n. 3, p. 411-427 How to Cite?
AbstractThe recapitalization of Thailand's banks following the 1997 crisis is interpreted and positively criticized from the perspective of neo-institutional theory. Although a recapitalization scheme was introduced as part of monetary policy in 1998, the statistics and critical reaction on the part of private interests suggest that public resources and administrative action would not suffice to fully and expeditiously fulfill this task. To increase the supply of private capital to the banking sector the authorities can most effectively adopt a neo-institutional philosophy, under which policy credibility in situations of financial distress is enhanced by the clarification of property rights and minimization of opportunities for special-interest action. Neo-institutional theory also suggests that it is possible to expedite overall monetary recovery if the government concentrates on its comparative advantage in supplying the public good of financial stability, and leave commercial banks free to realize private comparative advantage in areas such as restructuring, re-engineering, mergers and competition. To link public and private action in the areas noted above, initiatives can be introduced to cooperatively exploit relative efficiency in obtaining and using information to support decision-making. © 2005 Taylor & Francis Group Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/85700
ISSN
2015 Impact Factor: 0.683
2015 SCImago Journal Rankings: 0.219
References

 

DC FieldValueLanguage
dc.contributor.authorCheung, MTen_HK
dc.contributor.authorLiao, Zen_HK
dc.date.accessioned2010-09-06T09:08:10Z-
dc.date.available2010-09-06T09:08:10Z-
dc.date.issued2005en_HK
dc.identifier.citationAsia Pacific Business Review, 2005, v. 11 n. 3, p. 411-427en_HK
dc.identifier.issn1360-2381en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85700-
dc.description.abstractThe recapitalization of Thailand's banks following the 1997 crisis is interpreted and positively criticized from the perspective of neo-institutional theory. Although a recapitalization scheme was introduced as part of monetary policy in 1998, the statistics and critical reaction on the part of private interests suggest that public resources and administrative action would not suffice to fully and expeditiously fulfill this task. To increase the supply of private capital to the banking sector the authorities can most effectively adopt a neo-institutional philosophy, under which policy credibility in situations of financial distress is enhanced by the clarification of property rights and minimization of opportunities for special-interest action. Neo-institutional theory also suggests that it is possible to expedite overall monetary recovery if the government concentrates on its comparative advantage in supplying the public good of financial stability, and leave commercial banks free to realize private comparative advantage in areas such as restructuring, re-engineering, mergers and competition. To link public and private action in the areas noted above, initiatives can be introduced to cooperatively exploit relative efficiency in obtaining and using information to support decision-making. © 2005 Taylor & Francis Group Ltd.en_HK
dc.languageengen_HK
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/13602381.aspen_HK
dc.relation.ispartofAsia Pacific Business Reviewen_HK
dc.subject1997 financial crisisen_HK
dc.subjectCommercial banksen_HK
dc.subjectNeo-institutional policiesen_HK
dc.subjectProperty rightsen_HK
dc.subjectRecapitalizationen_HK
dc.subjectThailanden_HK
dc.titleRecapitalization of Thailand's banks after the 1997 crisis: Interpretation and critique from a neo-institutional perspectiveen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1360-2381&volume=11&spage=411&epage=427&date=2005&atitle=Recapitalization+of+Thailand%27s+Banks+After+the+1997+Crisis:+Interpretation+and+Critique+from+a+Neo-institutional+Perspectiveen_HK
dc.identifier.emailCheung, MT: tmcheung@hkucc.hku.hken_HK
dc.identifier.authorityCheung, MT=rp01054en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1080/13602380500068375en_HK
dc.identifier.scopuseid_2-s2.0-23144437854en_HK
dc.identifier.hkuros111309en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-23144437854&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume11en_HK
dc.identifier.issue3en_HK
dc.identifier.spage411en_HK
dc.identifier.epage427en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridCheung, MT=7201897422en_HK
dc.identifier.scopusauthoridLiao, Z=7203032568en_HK

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