Contents

INTRODUCTION

I. SUMMARY OF ISSUES AND EXPERIENCES

A. Major considerations in implementing reforms

B. Summary of the measures implemented

C. The aftermath of reform

II. INDONESIA

A. Background

B. Foreign exchange control and the exchange rate policy

C. Monetary and credit policy

D. The non-performing loan problem

E. Institutional reform: non-bank financial institutions

F. The stock market

G. Concluding remarks

III. MALAYSIA

A. The trends of the 1980s

B. The exchange rate policy and exchange control

C. Monetary and credit policy

D. Non-performing loans

E. Institutional reform: non-bank financial institutions

F. The capital market

G. Concluding remarks

IV. THE REPUBLIC OF KOREA

A. Background

B. Foreign exchange policy

C. Interest rate, credit and monetary policies

D. Non-performing loans

E. Institutional reform: non-bank financial institutions

F. The stock market

G. Opening of financial and capital market to foreign participation

H. Concluding remarks

V. THAILAND

A. Reform initiatives and background

B. Exchange rate policy and exchange control

C. Monetary and credit policy

D. Non-performing loans

E. Institutional reforms: non-bank financial institutions

F. Stock market

G. Supervision of the financial sector

H. Concluding remarks