This volume questions whether the Asian crisis could have been avoided through the application of recommendations highlighted by the contributors. The conclusion reached is that in an abstract world, perhaps; but in the world in which we live, no. It is argued that the proposals made in this collection of papers could certainly contribute to improved policy, albeit effecting marginal improvements rather than ground breaking changes. The contributors demonstrate that proficient monetary policy and banking regulation can be acheived through sound economic analysis that takes into account:...