In the case of Thailand, capital inflow amounted to about 10 per cent of GDP per year between 1990 and 1996, though that was at the high end of the range in the region.
We recently completed a round of public consultation on a macro-prudential policy framework that is aimed at building additional resilience in the financial system during periods of rapid credit growth and rising leverage or abundant liquidity. The instruments can also help to dampen growth in credit and asset prices that might pose risks to financial stability.