The recent financial crisis experienced by Thailand and the other Asia-Pacific countries has left an indelible impact on Thailand's financial system including significant amendments to the laws and regulations of banking, finance, and securities business as well as proposed new laws such as the Derivative Act. In this connection, the financial crisis acts as a change agent that promotes and accelerates the pace of deregulation and liberalization. The "barbarians" are the foreign financial institutions and foreign investors who will be in the position to gain the most from an opening of the gate to the financial services sector in Thailand. This Article first presents the background of the financial services in Thailand before examining significant changes to the existing regulatory framework and the legal environment.
Apisith John Sutham,
The Asian Financial Crisis and the Deregulation and Liberalization of Thailand's Financial Services Sector: Barbarians at the Gate,
21 Fordham Int'l L.J. 1890
Available at: http://ir.lawnet.fordham.edu/ilj/vol21/iss5/7