Preventing currency crises in emerging markets / edited by Sebastian Edwards and Jeffrey A. Frankel.

Format:

Book

Contributor:

Edwards, Sebastian, 1953-

Frankel, Jeffrey A.

National Bureau of Economic Research.

Series:

National Bureau of Economic Research conference report.

A National Bureau of Economic Research conference report

Language:

English

Subjects (All):

Currency question--Developing countries--Congresses.

Currency question.

Financial crises--Developing countries--Congresses.

Financial crises.

Physical Description:

1 online resource (783 p.)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, c2002.

Language Note:

English

Summary:

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. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore 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). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.

Contents:

Frontmatter

Contents

Acknowledgments

Introduction

1. Does the Current Account Matter?

2. Are Trade Linkages Important Determinants of Country Vulnerability to Crises?

3. What Hurts Emerging Markets Most?

4 When Is U.S. Bank Lending to Emerging Markets Volatile?

5. The Role of Large Players in Currency Crises

6. Contagion

7. Credit, Prices, and Crashes

8. Did the Malaysian Capital ControlsWork?

9. Malaysia's Crisis

10. Negative Alchemy?

11. Domestic Bank Regulation and Financial Crises

12. Dollarization of Liabilities, Net Worth Effects, and Optimal Monetary Policy

13. Chaebol Capitalism and the Currency-Financial Crisis in Korea

14. Living with the Fear of Floating

15. Policy in an Economy with Balance Sheet Effects

16. A Primer on Emerging-Market Crises

Contributors

Author Index

Subject Index

Notes:

Papers presented at a conference held in Islamorada, Fla., in Jan. 2001.

Includes bibliographical references and indexes.

ISBN:

9786612004841

9781282004849

1282004840

9780226185057

0226185052

OCLC:

646795980