Bird, Graham <br/><br/>
Banks financial liberalisation and financial crises in emerging markets 

 -  2001 
<br/><br/> 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.