What have we learned from recent financial crises and policy responses?

William White

No 84, BIS Working Papers from Bank for International Settlements

Abstract: This paper draws some policy lessons from recent financial crises. Three forms of financial instability are distinguished: short-term volatility, medium-term misalignments including excessive international capital flows, and contagion across both markets and countries. Some underlying factors contributing to each form of instability are identified and specific public policies are recommended to help alleviate each.

Pages: 37 pages
Date: 2000-01
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Citations: View citations in EconPapers (13)

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