Bad banking in Thailand? An empirical analysis of macro indicators
质疑泰国金融危机源于银行业薄弱的普遍观点，通过宏观指标分析发现长期表现良好，道德风险指标不支持“糟糕银行”论断，而自由化过程的风险管理问题同样存在于外国银行，提出系统变革框架更能解释事实。
It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial institutions. The article questions this proposition from an empirical viewpoint. It is well established that the long‐term performance of Thailand's financial system is favourable. The insight from moral hazard indicators is unexpected regarding the bad banking proposition, although not compelling. Finally, the liberalisation process produced inadequately addressed risks. However, this also applies to experienced and well‐regulated foreign banks. It is argued that the facts provided can be better explained in a framework of system change than by bad banking in Thailand.