Capital flows and financial crises: Theory versus realityCapital flows and financial crises Edited by Miles Kahler Cornell University Press, 1998, 268 pp

Cynthia Benzing

Atlantic Economic Journal, 2001, vol. 29, issue 1, 107-112

Abstract: The book Capital Flows and Financial Crises contains nine scholarly essays written by authors such as Barry Eichengreen, Albert Fishlow, Carrmen M. Reinhart, Vincent Raymond Reinhart, and Jeffrey D. Sachs. The essays are grounded in reality and include a detailed review of capital control usage in emerging countries. Four of the essays are case studies that explain how different conditions and levels of development may lead to different policies with varying degrees of success. Capital Flows and Financial Crises encourages economists to consider the particulars of a developing country before applying an economic cure, reexamines accepted economic theory in light of recent financial crises, and suggests a more moderate approach to financial liberalization given the inefficiencies and lack of regulation in emerging markets. Copyright International Atlantic Economic Society 2001

Date: 2001
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DOI: 10.1007/BF02299935

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