2. 1980s 43 1990s 66 Incidence of Banking Crises

3. Banking Crises Since 1974

4. Costs of Banking Crises

5. China and India Rode the Crisis

6. GDP Loss during Crises

7. Stock Market During Crises Stock Market During Crises

8. Growth in Developing Countries

9. Slowdown in World Growth

10. East Asian Exchange Rates $US/Foreign Currency

11. GDP Growth in Crisis Countries*

12. Real Wages during Crises

13. Crisis Unemployment Rates

14. Causes and Blame (…enough to go around…) Mahatir - Speculative Hedge Funds Suharto - Misguided Policy Interventions and exaggerated claims of government malfeasance Others - Crony capitalism, lack of transparency, faulty banking systems, inadequate regulatory environment Element of Truth in All of The Above

15. Impact is Felt in Four Major Areas Fall in the Demand for Labour Decrease in Real Wages Reduction in Public Spending Because of Revenue Falls Social and Political Upheaval