Currency and Financial Crises of the 1990s and 2000s

Assaf Razin and Steven Rosefielde

No 16754, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We survey three distinct types of financial crises which took place in the 1990s and the 2000s: 1) the credit implosion leading to severe banking crisis in Japan; 2) The foreign reserves' meltdown triggered by foreign hot money flight from frothy economies with fixed exchange rate regimes of developing Asian economies, and 3) The 2008 worldwide debacle rooted in financial institutional opacity and reckless aggregate demand management, epi-centered in the US, that spread almost instantaneously across the globe, mostly through international financial networks.

JEL-codes: E02 F3 N1 (search for similar items in EconPapers)
Date: 2011-02
Note: IFM
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published as Assaf Razin & Steven Rosefielde, 2011. "Currency and Financial Crises of the 1990s and 2000s," CESifo Economic Studies, Oxford University Press, vol. 57(3), pages 499-530, September.

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Journal Article: Currency and Financial Crises of the 1990s and 2000s (2011)
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