published_or_final_version / Asian Studies / Master / Master of Arts

Thesis (Ph. D.)--University of Texas at Austin, 2001. / Vita. Includes bibliographical references (leaves 240-258). Available also in a digital version from Dissertation Abstracts.

Thesis (M.S.)--Central Connecticut State University, 1999. / Thesis advisor: Marie Guarino. " ... in partial fulfillment of the requirements for the degree of Master of Science [in History]." Includes bibliographical references (leaves 42-45).

Thesis (Ph. D.)--Cornell University, 2001. / Includes bibliographical references.

Bibliographical references (p. 25-29). / "January 2003." Includes bibliographical references (p. 25-29). Also available online via the World Wide Web ; System requirements: Adobe Acrobat Reader.

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Politics and Public Administration / Master / Master of Philosophy

published_or_final_version / Urban Planning / Master / Master of Science in Urban Planning

M.A. / The objective of this thesis was to discuss capital account liberalization and banking crises in emerging markets, against the backdrop of the Asian financial crisis in 1997. This was discussed with an underlying objective of evaluating the soundness of the South African banking system. The basis of this thesis was that a sound banking system coupled with good macroeconomic policies would make South Africa less vulnerable to global financial volatility. On the East Asian financial crisis, we found that the main cause of this crisis was the lack of prudent lending practices by most banking institutions. Lending practices were largely shaped by institutionalized corruption. Bad lending practices originated from connected lending as banks were owned and had strong links with big family conglomerates. These conglomerates were highly leveraged with very low profit margins and survived on cross-subsidization. As a result, they could not service their debts, resulting in large bad debts and non-performing loans in the banking systems. These non-performing loans and debt defaults had significant negative effects on banks' profitability and business survival, as they eroded earnings and shot up credit exposure. Furthermore, we also found that governments' political influence in the lending system and weak macroeconomic management (large current account deficits, fixed exchange rates and expansionary fiscal policies) contributed significantly to the East Asian financial fragility. Against this background, we recommend that emerging markets that want to liberalize their capital accounts should ensure that sound banking systems are properly entrenched. When financial systems are not strong, emerging countries would be exposed to imprudent credit risk assessments by banking institutions, resulting in nonperforming loans and collapse of those banking institutions. Secondly, our view is that emerging markets should pursue and adhere to the core banking principles of the Basel Committee on Banking Supervision. The objective of these principles is to ensure that banks operate profitably and have good business frameworks. The Basel Committee requires commercial banks to have solid and efficient supervision departments, with strong intentions of evaluating credit risks associated with loans and advances. Furthermore, central banks or any other custodians of banking institutions should have capital adequacy requirements in order to protect depositors and investors against any unforeseen liquidity pressures. From this thesis, we found that the South African banking system is sound. The low level of non-performing loans in the domestic banking system is indicative of prudent credit risk management. Even with prime interest rates at an all time high of 25% in late 1998, most banks managed to escape large non-performing loans, especially from the corporate sector. The brunt was mostly felt in the small business sector and household debt category. The South African Reserve Bank's Supervision Department sets out stringent guidelines with regard to the lending practices of banks. Banks are not allowed to overexpose themselves to particular clients, as was the case in East Asia. This also extends to deposits. Banks are not allowed to take deposits above 25% from a single source. The objective is to guard against liquidity pressures that could occur when that particular depositor withdraws the funding.

by Chan Wing Tai, Chu Yee Wah, Yewa. / Thesis (M.B.A.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (leaves 77-80). / Abstract --- p.2 / Chapter Chapter I --- Introduction --- p.3 / Chapter Chapter II --- Literature Review & Methodology / Literature Review --- p.5 / Methodology --- p.6 / Chapter Chapter III --- Asian Financial Crisis / Causes of Crisis --- p.7 / Economic Impacts of the Crisis --- p.9 / Lessons for the Affected Economies --- p.11 / Lessons for Non-affected Economies --- p.12 / The Asian Economy --- p.13 / Impacts of Asian Financial Crisis on Countries --- p.16 / Chapter Chapter IV --- Mutual Fund and Asia Crisis / Introduction to Mutual Fund --- p.24 / Regional Economic Environment after Crisis --- p.25 / Asset Allocation of Mutual Fund --- p.37 / Impacts of Asian Financial Crisis on Mutual Fund --- p.44 / Mutual Fund Facts Before and After Crisis --- p.50 / Mutual Fund Performance Before and After Crisis --- p.54 / Asian Markets Outlook --- p.62 / Perspective in Asia Pacific Funds --- p.66 / Recommendation & Conclusion --- p.68 / Appendix --- p.70 / Bibliography --- p.77