Preventing Currency Crises in Emerging Markets
Sebastian Edwards and Jeffrey A. Frankel
Abstract
Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. This book explores the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervis ... More
Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. This book explores the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book aims to contribute to ongoing efforts to understand and prevent international currency crises.
Keywords:
financial crises,
Asia,
emerging markets,
global financial system,
multilateral organizations,
public sector economists,
private sector economists,
effective policy responses,
international currency crises,
exchange rate regimes
Bibliographic Information
| Print publication date: 2002 |
Print ISBN-13: 9780226184944 |
| Published to Chicago Scholarship Online: February 2013 |
DOI:10.7208/chicago/9780226185057.001.0001 |
Authors
Affiliations are at time of print publication.
Sebastian Edwards, editor
Jeffrey A. Frankel, editor
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