A National Bureau of Economic Research conference report
GENERAL NOTES
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Proceedings of a conference held in Monterey, Calif., in March 2001.
INTERNAL BIBLIOGRAPHIES/INDEXES NOTE
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Includes bibliographical references and index.
CONTENTS NOTE
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Interest rates and exchange rates in the Korean, Philippine, and Thai exchange rate crises / Dongchul Cho, Kenneth D. West -- Interest rate defense against speculative attack as a signal: a primer / Allan Drazen -- Does it pay to defend against a speculative attack? Barry Eichengreen, Andrew K. Rose -- The international lender of last resort: how large is large enough? Olivier Jeanne, Charles Wyplosz -- Rescue packages and output losses following crises / Michael P. Dooley, Sujata Verma -- Financial restructuring in banking and corporate-sector crises: what policies to pursue? Stijn Claessens, Daniela Klingebiel, Luc Laeven -- On the fiscal implications of twin crises / A. Craig Burnside, Martin Eichenbaum, Sergio Rebelo -- An evaluation of proposals to reform the international financial architecture / Morris Goldstein -- Recovery and sustainability in East Asia / Yung Chul Park, Jong-Wha Lee -- A cure worse than the disease? currency crises and the output costs of IMF-supported stabilization programs / Michael M. Hutchison -- IMF and World Bank structural adjustment programs and poverty / William Easterly -- Impacts of the Indonesian economic crisis: price changes and the poor / James Levinsohn, Steven Berry, Jed Friedman.
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SUMMARY OR ABSTRACT
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The management of financial crises in emerging markets is a vital and high-stakes challenge in an increasingly global economy. For this reason, it is also a highly contentious issue in today's public policy circles. 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 cost of such crises. The contributions here explore the management process from the beginning of a crisis to the long-term effects of the techniques used to minimize it.