Edited by Sebastian Edwards and Jeffrey A. Frankel

in Preventing Currency Crises in Emerging Markets

Published by University of Chicago Press

Published in print November 2002 | ISBN: 9780226184944
Published online February 2013 | e-ISBN: 9780226185057 | DOI:

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This book describes the issues linked to the prevention of financial crisis in the emerging-market countries. It is divided into five parts. Part I covers the role of the current account and trade flows in financial crises. Part II focuses on international financial players—including banks, large hedge funds, private investors, and speculators—and on the channels through which crises are transmitted across countries. The next part examines the effectiveness of capital controls as a way of preventing a crisis from becoming massive and costly. This part also concentrates on Malaysia, which responded to the crisis in 1998 by imposing capital controls. Part IV deals with the role of balance sheets, crony capitalism, and corruption. Finally, Part V emphasizes an essay that surveys the main characteristics of the “new” financial crises. Furthermore, an overview of the chapters included in this book is given.

Keywords: financial crisis; emerging-market countries; trade flows; banks; large hedge funds; private investors; capital controls; balance sheets; crony capitalism; corruption

Chapter.  8395 words. 

Subjects: International Economics

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