Several economists have offered a variety of arguments on the causes of the so-called Asian financial crisis that commenced on the second half of the 1997. The hypothesized causes revolve around a common theme: lack of prudent financial institutions and effective regulatory/supervisory structures to cope with the consequences of increasingly integrated international capital market. This paper describes the financial crisis and its causes, provides a background on ECOTECH as a major APEC concern, and examines the potential of ECOTECH in addressing the Asian financial crisis.
