... weak and when an extensive9. For example, the studies of banking crises in emerging markets by Caprio and Klingebiel (19 96a, 19 96b), Goldstein and Turner (19 96), Honohan (19 95), and Sundararajan ... of nearly $50 billion for Mexico in 19 94-95; over $12 0 billion for Thailand,Indonesia, and SouthKorea in 19 97-98; over $25 billion for Russia and Ukraine in 19 98; andanother $42 billion for ... to3. See Leiderman and Thorne (19 96) and Calvo and Goldstein (19 96) for an analysis of theMexican crisis.4. These alternative explanations of the Asian crisis are discussed in BIS (19 98), Corsetti,Pesenti,...