Hopefully the rest of the region can escape with something closer to a type crash rather than the type crash being endured by Indonesia. In at least one of the affected countries the restrictions on foreign ownership were greatly reduced. Even the Central Bank had no idea about the flows of money and resulting huge short-term private debt which entered Indonesia and caused a 'bubble economy'. The most obvious example of this is incentives given to investments on the basis that they would not otherwise occur. The then prime minister, Mahathir Mohamad imposed strict capital controls and introduced a 3. Most likely chances are small. This patronage system was Suharto's tool to maintain power; in exchange for political and financial support, Suharto gave powerful positions to his family, friends and enemies thus becoming cronies.
It now includes some capital controls as part of legitimate policy measures.
1997 Asian financial crisis