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Financial Policies

Financial Policies

(p.93) 2 Financial Policies
Economic and Financial Crises in Emerging Market Economies
Frederic S. MishkinAndrew CrockettMichael P. DooleyMontek S. Ahluwalia
University of Chicago Press

This chapter examines whether there are financial policies that can prevent financial crises in emerging market countries. It proposes a framework for understanding what a financial crisis is in emerging market countries and the dynamic process through which these crises occur, and uses this framework to determine particular financial policies may help to prevent financial crises. This chapter analyzes two basic areas of financial reform including prudential supervision, capital controls, market-based discipline.

Keywords:   financial policies, financial crises, emerging market countries, financial reform, prudential supervision, capital controls, market-based discipline

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