Capital Flows and Financial Crises (Council on Foreign Relations Book) - Hardcover

Hardcover

ISBN 10: 080143579X ISBN 13: 9780801435799

Publisher: Cornell University Press, 1998

Synopsis

Capital flows to the developing economies have long displayed a boom-and-bust pattern. Rarely has the cycle turned as abruptly as it did in the 1990s, however: surges in lending were followed by the Mexican peso crisis of 1994-95 and the sudden collapse of currencies in Asia in 1997. This volume maps a new and uncertain financial landscape, one in which volatile private capital flows and fragile banking systems produce sudden reversals of fortune for governments and economies. This environment creates dilemmas for both national policymakers who confront the "mixed blessing" of capital inflows and the international institutions that manage the recurrent crises.

The authors―leading economists and political scientists―examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical perspective. National governments have used a variety of strategies to deal with capital-account instability. The authors evaluate those responses, prescribe new alternatives, and consider whether the new circumstances require novel international policies.

About this title

About the Author

Miles Kahler is the Rohr Professor of Pacific International Relations at the University of California, San Diego. He is the author of several books, including Governance in a Global Economy: Political Authority in Transition, and editor of The Politics of International Debt, also from Cornell.

Edition details

• Publisher: Cornell University Press
• Publication date: 1998
• Language: English
• ISBN 10: 080143579X
• ISBN 13: 9780801435799
• Binding: Hardcover
• Number of pages: 288
• Editor: Kahler Miles