ASIA IN CRISIS: THE IMPLOSION OF THE BANKING AND FINANCE SYSTEMS 亚洲的危险期：银行业和金融系统的闭塞

Throughout the 1980's and the 1990's Asia's economic growth astonished the world. The region's stock markets soared to new heights unprecedented economic growth rates were recorded and an acquisitive new middle class emerged. Then overnight, it all fell apart. The question now being asked is: Who brought the party to an end?
　　In this penetrating and thoughtful account, Philippe Delhaise points the finger squarely at Asia's antiquated banking and financial systems. Everything else - the currency panics, the social and political shocks - is simply a stream of consequences flowing from the main source. What is exceptional about the crisis is not that it happened, but the manner in which it came about, inflicting indiscriminate devastation to all.
　　The story of the Asian Crisis is a tale of greed and sorrow, of intelligent people making unforgivable mistakes and of a collective misunderstanding about the management of economic expanison. Asia will undoubtedly recover, but the speed and strength of its re-emergence will depend on how well it has learned it's lessons. The concluding chapter of the book outlines the many issues that need to be addressed and provides a template for the future development of the region's finance industry.

作者简介：
Philippe Delhaise grew up in Belgium where he obtained degrees in Engineering, Economics and Philosophy. He later earned a MBA degree at the University of Chicago. He was a bank manager for fifteen years in Beirut, Tehran, Tokyo, Singapore and Hongkong before establishing several companies in Hongkong and Singapore servicing the banking industry. Among them was Asia's first regional bank rating agency, Capital Information Services, that became the basis of the Asia division of Thomson BankWatch.
In his present position, Philippe Delhaise heads a team of analysts who monitor over 300 banks in 16 Asian countries for the benefit of the international investment and financial community. He has produced numerous research papers on banking risk in Asia. His many speaking engagements around the world for various Asian bankers associations have confirmed him as a
specialist of financial risk in Asia.

Acknowledgements
Introduction
A crisis of growth
The business of banking and a disclaimer
The purpose of this book
Methods and approach
The crisis: what it is; what it is not
Objective
Chapter One: TIlE ASIA PANIC
So what went wrong?
Market liberalization
Malinvestment
Foreign currency borrowing under managed currencies
Market rigidities
The business/banks/politicians triangle
Size and structure of financial systems
Which cause is relevant'?
Chapter Two:CRIME AND PUNISHMENT
Moral hazard
Bank equity funds
Who should pay for a bank failure?
Rehabilitation
Winners and losers
Liquidations, mergers and nationalizations
Chapter Three: BANK ACCOUNTING IN ASIA
Disclosure
CAMEL
Capital
Asset quality
Earnings
Liquidity
Off-balance sheet items
Bank analysis in Asia
Chapter Four: THAILAND
The banking system
A deluge of funds
The defense of the baht in 1997: accounting tricks
The Thailand meltdown
The future
Chapter Five: KOREA
The Korea miracle
Korea's problems
The Korean banking system
Hell breaking loose
Korea and the IMF
The Future
Chapter Six: INDONESIA
The banking system
The wild east
The crisis
The Future
Chapter Seven: MALAYSIA
Multicultural complexity
The banking system
The crisis
The future
Chapter Eight: THE PHILIPPINES
The banking system
The crisis
The future
Chapter Nine:OTHER EAST ASIAN COUNTRIES
Chapter Ten:THE CURE
Chapter Eleven:CONCLUSION
Chronolpgy of the Asian currency and stock market panic
Appendices
References
Index