Financial Crises in Emerging Markets: An Essay on Financial Globalisation and Fragility

by Alexandre Lamfalussy

Book Overview

In this book an eminent international banking expert grapples with issues that surround the trend toward financial globalization and its potential impact on financial fragility. Does globalization entail the risk of greater financial market instability--perhaps even genuine systemic fragility--or will it lead to a smoother working of markets? How should governments, central banks, and international institutions respond to manifestations of financial...

• Format: Hardcover
• Language: English
• ISBN: 0300082304
• ISBN13: 9780300082302
• Release Date: August 2000
• Publisher: Yale University Press
• Length: 224 Pages
• Weight: 0.80 lbs.
• Dimensions: 0.7" x 5.7" x 8.5"

Customer Reviews

A Good Read!

This slender, surprisingly thorough volume provides an insider's view of four region's storm-tossed financial crises (Latin America, '82, Mexico '94, Asia, '98 and Russia '98). Author Alexandre Lamfalussy, a key figure at the Bank for International Settlements during some of these crises, discusses the history of these events and the problems confronting crisis managers at the time. He lays out the critical background facts of each crisis and draws clear commonalties and contrasts among them. He also offers thoughtful, reasonable prescriptions for avoiding, minimizing and managing future crises. Then, he points out some little-discussed aspects of globalization in the developed world, which contributed to the crises. Though Lamfalussy's style is dense and somewhat academic, his content is worth the work. We at getAbstract recommend this book as valuable reading (and a financial lifejacket) for anyone doing business or investing in an emerging market, for corporate executives working abroad and for public policy makers worldwide.