Financial Crises and National Policy Issues: An Overview

Ricardo Ffrench-Davis

No DP2002-81, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (rising external deficit, with a significant liquid component appreciating exchange rates; low capital formation, particularly in Latin America), and why funding remains dry for long since 1998; the role of the nature of the predominant agents and of a process of flows rather than one shot building of stock of foreign capital are stressed.

Keywords: Economic development; Financial crisis; Financial institutions; Fiscal policy; Foreign exchange (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (8)

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Book: Financial crisis and national policy issues: an overview (2003)
Working Paper: Financial crisis and national policy issues: an overview (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:dp2002-81

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