Financial Policies In Emerging Markets by Mario I. BlejerFinancial Policies In Emerging Markets by Mario I. Blejer

Financial Policies In Emerging Markets

EditorMario I. Blejer, Marko Skreb

Paperback | August 16, 2002

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An overview of the financial vulnerability of emerging market economies and how the impact of exchange rate regimes affects this vulnerability.

The 1994-1995 Mexican crisis was the first in a succession of financial crises to hit emerging markets in Thailand, Indonesia, Malaysia, South Korea, Russia, Brazil, Argentina, and Turkey. In almost all these cases, problems in the banking sector played a key role. Any analysis of recent developments in emerging market economies must consider two questions: What is the degree of financial vulnerability in emerging market economies, and what, if any, is the connection between the exchange rate regime and financial vulnerability?

This book furthers understanding of the impact of financial policies on emerging market economies. Following an introduction by the editors, the book contains two main sections. The first presents theoretical and empirical evidence on the relation between financial policy and financial vulnerability. The second considers financial policy in central and eastern Europe in terms of the euro and the European Monetary Union. Although there is no clear-cut answer to which exchange rate regime works best, the book concludes that the financial vulnerability of emerging market economies suggests the advisability of greater caution in financial system liberalization and management.

Title:Financial Policies In Emerging MarketsFormat:PaperbackDimensions:266 pages, 9 × 6 × 0.75 inPublished:August 16, 2002Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0262526220

ISBN - 13:9780262526227


Editorial Reviews

This is an outstanding volume, dealing with banks, exchange rate policies, and financial crises in the emerging markets. It is also a unique source of provocative theory and factual information about the adoption of the Euro by the Central and East European Nations.