Bird, Graham creator text 2001 monographic Provides a framework to explore the role of banks, bank inefficiencies and financial liberalisation in explaining the sustained interest rate premium offered in a number of emerging economies in East Asia despite evidence of fairly credible ex ante pegged exchange rates. Sees, within this framework, international financial liberalisation as fuelling a boom in domestic credit, which leads to acute balance sheet problems for domestic banks, and exposes the country concerned to currency crisis in the event of a sudden reversal of capital inflows, which banking weakness may itself trigger. 10/25/01 JOY_D