Prologue

Onno Beaufort Wijnholds

A chapter in Fighting Financial Fires, 2011, pp 1-10 from Palgrave Macmillan

Abstract: Abstract Financial crises, like the poor, will always be with us. Kindleberger, author of the classic Manias, Panics and Crashes, described financial crises as “a hardy perennial.”1 The modern capitalist system, despite all its positive results, produces financial crises at a steady rate. Some of these are relatively harmless and limited to a single country or small region, while others are much more insidious and can cause great harm. Crises that pose a threat to the global financial system are labeled systemic. Since the end of the Second World War there have been a number of such inflammable crises, the most recent and most dangerous of which started in the summer of 2007. The modern history of financial crises is riddled with lessons learned, not learned, ignored, or forgotten. While the focus of this book is on systemic crises since 1995, it is instructive to recall in a succinct manner the experience with crises of a few decades earlier.

Keywords: Exchange Rate; Central Bank; Latin American Country; European Monetary Union; International Bank (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-35420-3_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230354203

DOI: 10.1057/9780230354203_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().