ON THE ROAD TO RECOVERY INTERNATIONAL CAPITAL FLOWS AND DOMESTIC FINANCIAL REFORMS IN EAST

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1、DiscussionPaperNo.0124ONTHEROADTORECOVERY?INTERNATIONALCAPITALFLOWSANDDOMESTICFINANCIALREFORMSINEASTASIARamkishenS.RajanMay2001AdelaideUniversitySA5005,AUSTRALIACENTREFORINTERNATIONALECONOMICSTUDIESTheCentrewasestablishedin1989bytheEconomicsDepartmentoftheAdelaideUniversitytostrengthenteachingand

2、researchinthefieldofinternationaleconomicsandcloselyrelateddisciplines.Itsspecificobjectivesare:·topromoteindividualandgroupresearchbyscholarswithinandoutsidetheAdelaideUniversity·tostrengthenundergraduateandpost-graduateeducationinthisfield·toprovideshortertrainingprogramsinAustraliaandelsewhere

3、·toconductseminars,workshopsandconferencesforacademicsandforthewidercommunity·topublishandpromoteresearchresults·toprovidespecialisedconsultingservices·toimprovepublicunderstandingofinternationaleconomicissues,especiallyamongpolicymakersandshapersBoththeoreticalandempirical,policy-orientedstudies

4、areemphasised,withaparticularfocusondevelopmentswithin,orofrelevanceto,theAsia-Pacificregion.TheCentre’sExecutiveDirectorisProfessorKymAnderson(Emailkym.anderson@adelaide.edu.au)andDeputyDirector,DrRandyStringer(Emailrandy.stringer@adelaide.edu.au).Furtherdetailsandalistofpublicationsareavailable

5、from:ExecutiveAssistantCIESSchoolofEconomicsAdelaideUniversitySA5005AUSTRALIATelephone:(+618)83035672Facsimile:(+618)82231460Email:cies@adelaide.edu.auMostpublicationscanbedownloadedfromourHomepageathttp://www.adelaide.edu.au/cies/ISSN1445-3746series,electronicpublicationCIESDISCUSSIONPAPER0124ON

6、THEROADTORECOVERY?INTERNATIONALCAPITALFLOWSANDDOMESTICFINANCIALREFORMSINEASTASIARamkishenS.RajanSchoolofEconomicsandCIESAdelaideUniversity,SA5005,AUSTRALIAandtheInstituteofSoutheastAsianStudies,Singapore.E-mail:ramkishen.rajan@adelaide.edu.auMay2001Copyright2001RamkishenS.Rajan___________________

7、_____________________________________________________ResearchassistancebyHarminderChyleandReganEngelhardtisappreciated.Theusualdisclaimerapplies.AlldollarsrefertoUSdollars.ABSTRACTONTHEROADTORECOVERY?INTERNATIONALCAPIT