ABSTRACT
Having reviewed the major theories of financial crises, we turn now to a comparison of their similarities and differences. Despite the widely different times and places upon which these theories were based, there are certain common approaches among at least a majority of the writers. These approaches taken together do not constitute a theory, but do indicate a certain perspective on how to approach the task of empirically testing the various theories. In addition, they provide a convenient framework that can be used to focus on the particular differences among the theorists, and to highlight specific theoretical questions to be investigated.
