Asian Financial Crisis And The Procedure And Order Of Financial Deregulation

Since the Asian financial crisis of 1997 the world has begun to recognize the problem of financial liberalization in the developing countries and there are many positions to it. In this paper I feel sure that the developing countries have to carry out the financial liberalization to set up an international financial markets in their own countries, the financial crisis of 1997 is caused by two factors----the original shortages in their own institutions and the unsuitable procedures during the financial liberalization. In this paper I use a lot of data and facts to certify that the problems of Japan and Korea is that they have not enough financial liberalization for their markets and that of Thailand, Malaysia and Indonesia is over-financial- liberalization for their markets. In the next decades they should adjust their financial liberalization procedures and terms to improve their financial markets. They are also the samples for China, China also will carry out the financial liberalization to set up an international financial market in the future.