The Asian crisis is the starting point of the reassessment of the international architecture: while our understanding of Asia and the crisis is imperfect and no doubt distorted in various ways, it may well be ahead of many of the larger countries which have tended to dominate the debate.24 We have well-developed links - across a variety of disciplines - with our 22  The Australian experience with Variable Deposit Requirements in the 1970s is also relevant.
This means further increases in prices result in the banks mostly shuffling the deposits between themselves, rather than generating further increases in the share of funds investors allocate to deposits. At the same time as banks have increased the share of deposit funding by around 7 percentage points, the share of longer-term wholesale funding has also increased by a similar amount.