Which of the following conditions were present in Thailand, Indonesia, Malaysia, the Philippines, and Korea during the year before the 1997 financial crisis?

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Only statements I and IV are trueOnly statements II and III are trueStatements I, II, and III are trueStatements II, III, and IV are trueNone of the above

Explanation

Before the 1997 crisis, the countries experienced very low capital inflows relative to GDP (I) and rapid credit expansion (IV). However, nonperforming loan ratios (II) and current account deficits (III) were not significantly high during that period, making only statements I and IV accurate.