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Exchange Rate Regimes and Monetary Cooperation: Lessons from East Asia and Latin America

Exchange Rate Regimes and Monetary Cooperation: Lessons from East Asia and Latin America Abstract This paper analyses the mechanisms of, and draws lessons from, currency crises in Asian and Latin American countries in the 1990s and 2000s. In Asian countries fiscal deficits were insignificant in size, and were not part of a crisis trigger, while in Latin America they played a major role in the crisis story. Crisis management by international financial institutions has been evolving over the last 10 years, and private-sector involvement (PSI) has occupied centre-stage in efforts to reform the international financial architecture. Sovereign debts, a focus of PSI discussions, were neither a cause nor a propagation of the Asian crises. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Japanese Economic Review Springer Journals

Exchange Rate Regimes and Monetary Cooperation: Lessons from East Asia and Latin America

Ito, Takatoshi
The Japanese Economic Review , Volume 55 (3): 27 – Sep 1, 2004
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References (24)

Publisher
Springer Journals
Copyright
2004 Japanese Economic Association
ISSN
1352-4739
eISSN
1468-5876
DOI
10.1111/j.1468-5876.2004.00280.x
Publisher site
See Article on Publisher Site

Abstract

Abstract This paper analyses the mechanisms of, and draws lessons from, currency crises in Asian and Latin American countries in the 1990s and 2000s. In Asian countries fiscal deficits were insignificant in size, and were not part of a crisis trigger, while in Latin America they played a major role in the crisis story. Crisis management by international financial institutions has been evolving over the last 10 years, and private-sector involvement (PSI) has occupied centre-stage in efforts to reform the international financial architecture. Sovereign debts, a focus of PSI discussions, were neither a cause nor a propagation of the Asian crises.

Journal

The Japanese Economic Review – Springer Journals

Published: Sep 1, 2004

Keywords: economics, general; microeconomics; macroeconomics/monetary economics//financial economics; econometrics; development economics; economic history

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