East Asia's crisis was relatively long lived because A) East ...

[ghost!]

East Asia's crisis was relatively long lived because
 
  A) East Asia's financial institutions had encouraged borrowing all together.
  B) East Asia's financial institutions had encouraged heavy borrowing in local currency.
  C) East Asia's financial institutions had extended low-interest loans.
  D) East Asia's financial institutions had extended high-interest loans.
  E) East Asia's financial institutions had encouraged heavy borrowing in dollars.

Question 2

During 1991, Argentina's monetary law had a currency board. Explain and give an example.
 
  What will be an ideal response?

[akpaschal]

Answer to Question 1

E

Answer to Question 2

The currency board is monetary base backed entirely by foreign currency and the central bank therefore held no domestic assets. An example of currency board is 100 foreign exchange backing for monetary base.

[ghost!]

TYSM

[nguyenhoanhat]

Gracias!