First, in the light of the Asian crisis, the need for fundamental changes in the international financial architecture acquired greater urgency. Many proposals were made for strengthening the international financial system.
6  Current empirical work on this topic includes a number of interesting country case studies on LTV and DTI policies. For example, see Bank of Korea and International Monetary Fund (2011), “Managing Real Estate Booms and Busts” (3 MB PDF), summary from the BOK-IMF workshop, Seoul, Korea, April 11–12.