The study provides a review of the twin liberalisation programmes in the SEACEN countries with emphasis on the sequencing and pacing of reforms in the domestic financial sector and the capital account. It also analyses the macroeconomic developments in the SEACEN countries during 1990 to 1995 and 1996 the pre-crisis year with a view of determining the impact of the twin liberalisations on these countries and identifying areas of weakness prior to crisis.
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