1. The country used high-interest rates to lure international capital (debt). High capital created growth which created high inflation. High inflation devalued currency thus making debt expensive. This led to a balance of payment crisis which in turn killed the economy. Turkey

2. Country capitalized public sector banks. Banks gave huge loans to private enterprises. This debt weakened the balance sheet and made private enterprises unattractive to foreign capital. Banks being publicly owned were not so prudent. The amount disbursed became NPA and it tanked the economy. India

3. The country used the capital to fund private enterprises as an equity investor. The equity inclusion by local partners led to an equity investment by international investors. The pouring of equity capital in young enterprises boosted investments, created consumption and build world-class organizations. This led to more and more international money coming in the form of equity which in turn created more growth and better returns. China