1 CONTROLLING THE RISK: A CASE STUDY OF THE INDIAN LIQUIDITY CRISIS 1990-1992 Ephraim Clark and Geeta Lakshmi* Middlesex University Business School The Burroughs London NW4 4BT UK *Contact Author: Dr Geeta Lakshmi Lecturer Middlesex University Business School The Burroughs London NW4 4BT UK Tel: 44-(0)208-362-6184 Email: G.Lakshmi@mdx.ac.uk