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OverviewFinancial crises are dramatic events. When they emerge, they tend to dominate the attention of the press and become the focus of policymakers. In one form or another, they have affected the lives of millions of people throughout the world. As references to 16th century Dutch tulips, 18th South Seas merchant ventures, or 1920s Florida real estate make clear, they have been around for a long time. At their worst, such as in the cases of the Great Depression or the current Great Recession, their effects have been felt worldwide, with the number of people affected counted into the billions. They have at times changed the course of history. This book analyses ten of the most important financial crises of the last thirty years. The specific crises covered in the book are the 1982 Chilean crisis, the 1992 ERM crisis, the 1994 Mexican crisis, the 1997 Asian crisis, the 1998 Russian crisis, the 1999 Brazilian crisis, the 1999 Ecuadorian crisis, the 2000 Turkish crisis, the 2002 Argentine crisis, and the 2008 crisis in Iceland. The set includes the most important emerging-market crises of the last three decades as well as two particularly informative advanced-country crises, the ERM crisis of 1992 and the Icelandic crisis of 2008. A separate chapter is devoted to each crisis, and a brief concluding chapter sums up some of the key lessons that I believe that we can draw from these events. Full Product DetailsAuthor: Peter Montiel (Williams College, USA)Publisher: Taylor & Francis Ltd Imprint: Routledge Dimensions: Width: 15.60cm , Height: 1.90cm , Length: 23.40cm Weight: 0.657kg ISBN: 9780415539722ISBN 10: 0415539722 Pages: 304 Publication Date: 11 November 2013 Audience: General/trade , College/higher education , Professional and scholarly , General , Tertiary & Higher Education Format: Hardback Publisher's Status: Active Availability: In Print  This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsReviews"""What can one learn from past experience to avoid future financial crises? Montiel (Williams College) seeks to answer that question by examining economic crises involving countries in Asia, Europe, and Latin America from 1980 to 2010. With the small number of observations precluding statistical analysis, he effectively uses comparative case studies to support his findings. For each crisis, Montiel applies a common outline that includes background information, development of vulnerabilities, identification of a precipitating event, description of the crisis, policy responses, evaluation of outcomes, and lessons learned. From the comparisons, he finds that breakdowns in expectations that financial obligations will be honored arise from widespread doubts about the sufficiency of central banks' foreign exchange reserves; the ability of governments to pay off their sovereign debts; or the convertibility of commercial bank demand deposits to cash at par. He notes from those experiences that weakness in one sector frequently leads to breakdowns in others. His final chapter summarizes those crises and presents fiscal, monetary, and financial sector policy recommendations to avoid their future occurrence. Summing Up: Recommended. Students, upper-division undergraduate and up; faculty, researchers, professionals, general readers."" -- E. L. Whalen, formerly, Clarke College published in CHOICE May 2014 ""What can one learn from past experience to avoid future financial crises? Montiel (Williams College) seeks to answer that question by examining economic crises involving countries in Asia, Europe, and Latin America from 1980 to 2010. With the small number of observations precluding statistical analysis, he effectively uses comparative case studies to support his findings...Summing Up: Recommended."" - E. L. Whalen, formerly, Clarke College for CHOICE" What can one learn from past experience to avoid future financial crises? Montiel (Williams College) seeks to answer that question by examining economic crises involving countries in Asia, Europe, and Latin America from 1980 to 2010. With the small number of observations precluding statistical analysis, he effectively uses comparative case studies to support his findings. For each crisis, Montiel applies a common outline that includes background information, development of vulnerabilities, identification of a precipitating event, description of the crisis, policy responses, evaluation of outcomes, and lessons learned. From the comparisons, he finds that breakdowns in expectations that financial obligations will be honored arise from widespread doubts about the sufficiency of central banks' foreign exchange reserves; the ability of governments to pay off their sovereign debts; or the convertibility of commercial bank demand deposits to cash at par. He notes from those experiences that weakness in one sector frequently leads to breakdowns in others. His final chapter summarizes those crises and presents fiscal, monetary, and financial sector policy recommendations to avoid their future occurrence. Summing Up: Recommended. Students, upper-division undergraduate and up; faculty, researchers, professionals, general readers. -- E. L. Whalen, formerly, Clarke College published in CHOICE May 2014 What can one learn from past experience to avoid future financial crises? Montiel (Williams College) seeks to answer that question by examining economic crises involving countries in Asia, Europe, and Latin America from 1980 to 2010. With the small number of observations precluding statistical analysis, he effectively uses comparative case studies to support his findings...Summing Up: Recommended. - E. L. Whalen, formerly, Clarke College for CHOICE What can one learn from past experience to avoid future financial crises? Montiel (Williams College) seeks to answer that question by examining economic crises involving countries in Asia, Europe, and Latin America from 1980 to 2010. With the small number of observations precluding statistical analysis, he effectively uses comparative case studies to support his findings...Summing Up: Recommended. - E. L. Whalen, formerly, Clarke College for CHOICE Author InformationPeter J. Montiel is Farleigh S. Dickinson Jr. ’41 Professor of Economics at Williams College, Massachusetts, USA. He is the author of three editions of Development Macroeconomics with Pierre-Richard Agénor. Tab Content 6Author Website:Countries AvailableAll regions |
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