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Economist Says Thailand Has Failed to Learn Lessons of 1997 Crisis.
Byline: Parista Yuthamanop
Jul. 2--Five years after the economic crisis began, many Thais still lack knowledge and understanding of the roots of the financial collapse, according to Ammar Siamwalla, a distinguished scholar with the Thailand Development Research Institute (TDRI).
The Bank of Thailand, five years ago today, formally acknowledged defeat in its month-long battle to prop up the fixed exchange rate by announcing that it would float the baht, a decision that touched off a national and regional economic crisis.
Within six months, Thailand had accepted a US$17.2-billion bailout package from the International Monetary Fund, ordered 56 ...
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