Endnotes
1Other crisis affected countries in the region also had similar experiences (Sussangkarn, Flatters, and Kittiprapas 1999).
2Among countries in Southeast Asia, this is also the case for Singapore.
3Rising commodity prices, particularly oil, also led to the increased share of resource based exports (shown in Figure 5) in recent years.
4Much of the FDI inflows in the first two to three years after the crisis were not greenfield investment but came in to buy existing distressed assets, particularly in the financial sector.
5The new Bank of Thailand Act that was passed in 2006 also provided additional instruments for the Bank of Thailand to use for more effective sterilization of exchange rate interventions.
6See Sussangkarn and Vichyanond (2007) for detailed discussions of the crisis and lessons.
7This is related to the provisioning requirement of the Basel Capital Accord; see Sussangkarn and Vichyanond (2007).
8See Chandoevwit (2006) and NaRanong and NaRanong (2006) for discussions of the social security system and the healthcare scheme.
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