1. Causes and consequences of the Asian financial crisis Gregory W. Noble and John Ravenhill; 2. Capital flows and crises Stephen Grenville; 3. The political economy of the Asian financial crisis: Korea and Thailand compared Stephan Haggard and Andrew MacIntyre; 4. The good, the bad, and the ugly? Korea, Taiwan and the financial crisis Gregory W. Noble and John Ravenhill; 5. Indonesia: reforming the institutions of financial governance? Natasha Hamilton-Hart; 6. Political impediments to far-reaching banking reforms in Japan: implications for Asia Jennifer Amyx; 7. Dangers and opportunities: the implications of the Asian financial crisis for China Hongying Wang; 8. The International Monetary Fund in the wake of the Asian crisis Barry Eichengreen; 9. Taming the phoenix?; Monetary governance after the crisis Benjamin J. Cohen; 10. The vagaries of debt: Indonesia and Korea Thomas M. Callaghy; 11. The new international financial architecture and its limits Miles Kahler.