In recent years banking and financial crises have imposed heavy costs: in the United States savings and loan crisis, in Nordic countries, the European Union, Japan, Mexico and the Southeast Asian. Several countries in Asia now face the challenge of resolving difficulties in their banking systems after the crisis that started in Thailand in 1997. The increased challenges today in preventing and resolving both domestic and international financial crises are paradoxically a consequence of economic progress, which at the same time, is a result of the globalization of capital markets and the rapid mobility of funds allowed by advances in technology. South East Asia's recent problems illustrate this point, however, they can only be understood in light of the region's economic progress over the last years. While the views on what caused crisis and its implications will continue to churn, this paper has tried to explore the roots of the Asian crisis in three specific fields: the macroeconomic management, the international market conditions and the financial system. And the conclusions derived afterwards are: