Business and Finance Information

Archive for November, 2007

In July 1997, a sudden financial crisis first erupted in Thailand, then quickly affect a large number of countries and regions in Asia. Even 10 years before the financial crisis, what lessons should be drawn from the financial crisis? Therefore, CRI has interviewed journalists Chulalongkorn University economist, Sompop Manarungsan and former Chairman of the Economic Journalists Association Thialand, Chavewan Kiatchokechaikul. Here’s his report.

When he concluded the cause of the monetary crisis in Thailand 10 years ago, considered excessive openness Sompop financial sector is one of the main reasons. Said,

“In my opinion, there are several causes, the first is an error in the state of macroeconomic management. For example, monetary policy mistakes, including excessive openness in the monetary field, the application of capital account liberalization (BIBF), which also funds the traffic-free. But at the same time, has introduced a system of fixed exchange rates that are inconsistent with the monetary policy independently. ” Read the rest of this entry »