Post-Asian Financial Crisis Reforms in Thailand A 20 Year Retrospective on the Banking Industry

This book is distinguished for its longitudinal, evidence-based policy analysis concerning the impacts of financial regulatory reforms post-crisis, thereby enriching the comprehension of policy impact mechanisms at a micro-level. Distinguished from collections of past events; this monograph is a lens through which the intricate relationships between regulatory changes, market dynamics, and organizational behavior are explored and understood. The study is devoted to a thorough 20-year retrospective analysis of Thailand's financial regulatory reforms and their complex effects on the commercial banking sector. It uncovers how these reforms, particularly the increase in foreign participation, have paradoxically degraded market competition while also not fully achieving their intended goals in financial technology advancement. This nuanced understanding underscores the book's impact in rethinking policy effectiveness and market dynamics in a global context. Moreover, by offering a unique blend of macro- and micro-perspectives, the book delves into how these regulatory impacts materialize at the organizational level. Through an in-depth examination of business practices and governance in banking, it provides vital insights into how family-owned banks in Thailand have navigated economic crises, transitioning from ownership control to management control models.

Introduction.- The Financial Sector Reform and the Change in the Ownership Structure of the Commercial Banks.- Thailand’s Commercial Banking Sector in Regional Asian Markets.- The Business Practice and Performance of the Commercial Banks.- The Effects of Foreign Entry into the Thailand’s Commercial Banking Sector.

Wanxue Lu is an Assistant Professor in the Faculty of Economics, Kyoto University. She earned her M.A. in finance and a Ph.D. in Southeast Asian area studies, both from Kyoto University. With a research tenure at the Institute of Asian Studies at Chulalongkorn University in Thailand, and engagements in research projects at the Institute of Developing Economies (IDE-JETRO) and the Asia Pacific Institute of Research, her extensive experience has not only endowed her with a nuanced understanding of the financial dynamics in Asia, but also integrated her into a vibrant network of policymakers and industry professionals. Her scholarly output, including her analyses and documentation of financial reforms following the Asian Financial Crisis, offers profound insights into the complexities of Southeast Asian financial markets, proving essential for both academic and practical applications in understanding and navigating this region’s economic environments.