Managing Currency Crisis in Emerging Markets
Seiten
2003
University of Chicago Press (Verlag)
978-0-226-15540-1 (ISBN)
University of Chicago Press (Verlag)
978-0-226-15540-1 (ISBN)
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How to manage financial crises in emerging markets is a high stakes and contentious challenge for public policy. In this work, leading economists consider how best to reduce the frequency and cost of such crises.
How to manage financial crises in emerging markets is a high-stakes and contentious challenge for public policy today. In this book, leading economists -many of whom have also participated in policy debates on these issues - consider how best to reduce the frequency and costs of such crises. The first three chapters focus on the immediate defence of a currency under attack, exploring whether unnecessary damage to economies can be avoided by adopting the right response in the first few days of a financial crisis. Next, contributors examine the adjustment programs that follow crises, considering how to design these programs so that they shorten the recovery phase, encourage economic growth, and minimize the probability of future difficulties. Finally, the last four papers analyze the actual effects of adjustment programs, asking whether they accomplish what they are designed to do and whether they impose disproportionate costs on the poorest members of society. Economists and policymakers should welcome this volume, as they have its companion, Sebastian Edwards and Jeffrey A. Frankel's "Preventing Currency Crises in Emerging Markets".
How to manage financial crises in emerging markets is a high-stakes and contentious challenge for public policy today. In this book, leading economists -many of whom have also participated in policy debates on these issues - consider how best to reduce the frequency and costs of such crises. The first three chapters focus on the immediate defence of a currency under attack, exploring whether unnecessary damage to economies can be avoided by adopting the right response in the first few days of a financial crisis. Next, contributors examine the adjustment programs that follow crises, considering how to design these programs so that they shorten the recovery phase, encourage economic growth, and minimize the probability of future difficulties. Finally, the last four papers analyze the actual effects of adjustment programs, asking whether they accomplish what they are designed to do and whether they impose disproportionate costs on the poorest members of society. Economists and policymakers should welcome this volume, as they have its companion, Sebastian Edwards and Jeffrey A. Frankel's "Preventing Currency Crises in Emerging Markets".
Michael P. Dooley is a professor of economics at the University of California, Santa Cruz. He is also a research associate of the National Bureau of Economic Research and the managing editor of the "International Journal of Finance and Economics." Jeffrey A. Frankel is the James W. Harpel Professor of Capital Formation and Economic Growth at Harvard University's Kennedy School of Government and the director of the National Bureau of Economic Research's program in International Finance and Macroeconomics. He is the coauthor, most recently, of "American Economic Policy in the 1990s."
| Erscheint lt. Verlag | 11.3.2003 |
|---|---|
| Reihe/Serie | National Bureau of Economic Research Conference Report |
| Zusatzinfo | 61 line drawings, 63 tables |
| Sprache | englisch |
| Maße | 163 x 234 mm |
| Gewicht | 728 g |
| Themenwelt | Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft |
| ISBN-10 | 0-226-15540-4 / 0226155404 |
| ISBN-13 | 978-0-226-15540-1 / 9780226155401 |
| Zustand | Neuware |
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