Financial Crises in Emerging Markets: An Essay on Financial Globalisation and Fragility: The Henry L. Stimson Lectures Series
Autor Alexandre Lamfalussyen Limba Engleză Hardback – 11 aug 2000
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 fragility?
Alexandre Lamfalussy analyzes four major crisis experiences in emerging markets: Latin America in 1982–83, Mexico in 1994–95, East Asia in 1997–98, and Russia since 1998. The author finds that the build-up of short-term indebtedness and asset price bubbles were at the heart of the four crises. And in each case the exuberant behavior of lenders and investors from the developed world played a major role, while financial globalization was an aggravating factor. Lamfalussy offers a series of carefully considered policy recommendations for the future that are both pragmatic and wise.
Alexandre Lamfalussy analyzes four major crisis experiences in emerging markets: Latin America in 1982–83, Mexico in 1994–95, East Asia in 1997–98, and Russia since 1998. The author finds that the build-up of short-term indebtedness and asset price bubbles were at the heart of the four crises. And in each case the exuberant behavior of lenders and investors from the developed world played a major role, while financial globalization was an aggravating factor. Lamfalussy offers a series of carefully considered policy recommendations for the future that are both pragmatic and wise.
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Specificații
ISBN-13: 9780300082302
ISBN-10: 0300082304
Pagini: 224
Ilustrații: illus.
Dimensiuni: 140 x 210 x 20 mm
Greutate: 0.43 kg
Ediția:New.
Editura: Yale University Press
Colecția Yale University Press
Seria The Henry L. Stimson Lectures Series
ISBN-10: 0300082304
Pagini: 224
Ilustrații: illus.
Dimensiuni: 140 x 210 x 20 mm
Greutate: 0.43 kg
Ediția:New.
Editura: Yale University Press
Colecția Yale University Press
Seria The Henry L. Stimson Lectures Series
Notă biografică
Alexandre Lamfalussy is a professor in the Institute of European Studies at the Catholic University of Louvain, Belgium. He has served as general manager of the Bank for International Settlements and was president of the European Monetary Institute from 1993 to 1997.