Capital flows and economic crisis in Thailand, by Medhi Krongkaew (http://www.ide.go.jp/library/English/Publish/Periodicals/De/pdf/99_04_02.pdf) describes the historical context of the liberalization of the capital account in Thailand since the 1970s. Summarize part II.B ‘Capital Inflows and resulting Macroeconomic effects’ OR III.B ‘Capital management during the crisis’ and provide an explanation of the economic mechanisms seen in class that are relevant to describe the case of this country in 1997. Use words only and use quotation marks if you cite from the article.
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