Various different and sometimes contradictory lessons have been drawn from the 1997-1998 East Asian crisis experiences. The ideological implications and political differences involved have complicated the possibility of drawing shared lessons from the crises. The seeming calm and increased growth in most developing countries in the period since 2001 have also undermined the possibility of far-reaching developmental reforms following the experience. Perhaps most importantly, the vested interests supporting existing international financial governance arrangements continue to impede the possibility of implementing lessons drawn from the experience. Such interests are generally supported by conventional wisdom and reinforced by the financial media.
Introduction -- From Miracle to Debacle -- Financial Liberalization and the East Asian Crises -- Crises of a New Type -- Reversible Capital Inflows -- International Financial Liberalization -- The Role of the IMF -- Priorities for International Financial System Reform -- Conclusion.

25 p. : tables

Includes bilbiographical references (p. 23-25).
Available also at Department of Economic Social Affairs website (viewed on 8 Apr. 2009).