ABSTRACT
The last decade has seen a massive increase in international capital flows to emerging markets. This development has offered opportunities to those countries that have opened themselves up to overseas capital, but it has also created risks.
In this volume, a team of policymakers and academics from 14 different countries, as well as representatives of the international financial institutions primarily responsible for responding to the crises, examine the challenges and options facing policymakers today. The book includes both detailed analysis of individual economies from around the world and in-depth analysis of the broad systemic issues of why crises occur and how we can prevent them. By looking at economies from many different parts of the world, the book provides a broad and comprehensive look at the similarities and differences in recent financial crises.
TABLE OF CONTENTS
part 1|38 pages
Crises in a world of mobile capital
chapter 3|10 pages
Sequencing of capital account liberalisation
part 2|34 pages
The management and prevention of crises
chapter 4|9 pages
The muddling through of crisis management in Indonesia
chapter 5|15 pages
International policy advice in the East Asian crisis
chapter 6|8 pages
Which short-term debt over reserve ratio works best?
part 3|77 pages
European experiences
chapter 8|20 pages
Relative resistance to currency crisis
part 4|38 pages
Latin American crises
chapter 11|15 pages
Foreign capital flows, economic crisis and policy regime in Mexico in the 1990s
part 5|56 pages
The East Asian crisis economies
chapter 14|16 pages
The financial crisis in Korea and its aftermath
part 6|37 pages
East Asian experiences with capital controls
part 7|37 pages
Looking to the future
part 8|12 pages
Conclusions