LEADER 05070nam 22007094a 450 001 9910451101203321 005 20210603220848.0 010 $a1-281-12549-0 010 $a9786611125493 010 $a0-226-15542-0 024 7 $a10.7208/9780226155425 035 $a(CKB)1000000000409459 035 $a(EBL)408361 035 $a(OCoLC)236345498 035 $a(SSID)ssj0000196819 035 $a(PQKBManifestationID)11169321 035 $a(PQKBTitleCode)TC0000196819 035 $a(PQKBWorkID)10154769 035 $a(PQKB)11248327 035 $a(StDuBDS)EDZ0000115715 035 $a(MiAaPQ)EBC408361 035 $a(DE-B1597)523695 035 $a(OCoLC)781254177 035 $a(DE-B1597)9780226155425 035 $a(Au-PeEL)EBL408361 035 $a(CaPaEBR)ebr10210017 035 $a(CaONFJC)MIL112549 035 $a(EXLCZ)991000000000409459 100 $a20020313d2003 uy 0 101 0 $aeng 135 $aurun#---||||| 181 $ctxt 182 $cc 183 $acr 200 00$aManaging currency crises in emerging markets$b[electronic resource] /$fedited by Michael P. Dooley and Jeffrey A. Frankel 210 $aChicago $cUniversity of Chicago Press$dc2003 215 $a1 online resource (456 p.) 225 1 $aA National Bureau of Economic Research conference report 300 $aProceedings of a conference held in Monterey, Calif., in March 2001. 311 0 $a0-226-15540-4 320 $aIncludes bibliographical references and index. 327 $tFront matter --$tContents --$tAcknowledgments --$tIntroduction --$t1. Interest Rates and Exchange Rates in the Korean, Philippine, and Thai Exchange Rate Crises --$t2. Interest Rate Defense against Speculative Attack as a Signal: A Primer --$t3. Does It Pay to Defend against a Speculative Attack? --$t4. The International Lender of Last Resort: How Large Is Large Enough? --$t5. Rescue Packages and Output Losses Following Crises --$t6. Financial Restructuring in Banking and Corporate-Sector Crises: What Policies to Pursue? --$t7. On the Fiscal Implications of Twin Crises --$t8. An Evaluation of Proposals to Reform the International Financial Architecture --$t9. Recovery and Sustainability in East Asia --$t10. A Cure Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs --$t11. IMF and World Bank Structural Adjustment Programs and Poverty --$t12. Impacts of the Indonesian Economic Crisis: Price Changes and the Poor --$tContributors --$tAuthor Index --$tSubject Index 330 $aThe management of financial crises in emerging markets is a vital and high-stakes challenge in an increasingly global economy. For this reason, it's also a highly contentious issue in today's public policy circles. In this book, leading economists-many of whom have also participated in policy debates on these issues-consider how best to reduce the frequency and cost of such crises. The contributions here explore the management process from the beginning of a crisis to the long-term effects of the techniques used to minimize it. The first three chapters focus on the earliest responses and the immediate defense of a currency under attack, exploring whether unnecessary damage to economies can be avoided by adopting the right response within the first few days of a financial crisis. Next, contributors examine the adjustment programs that follow, considering how to design these programs so that they shorten the recovery phase, encourage economic growth, and minimize the probability of future difficulties. Finally, the last four papers analyze the actual effects of adjustment programs, asking whether they accomplish what they are designed to do-and whether, as many critics assert, they impose disproportionate costs on the poorest members of society. Recent high-profile currency crises have proven not only how harmful they can be to neighboring economies and trading partners, but also how important policy responses can be in determining their duration and severity. Economists and policymakers will welcome the insightful evaluations in this important volume, and those of its companion, Sebastian Edwards and Jeffrey A. Frankel's Preventing Currency Crises in Emerging Markets. 410 0$aNational Bureau of Economic Research conference report. 606 $aCurrency question$zDeveloping countries$vCongresses 606 $aForeign exchange rates$zDeveloping countries$vCongresses 606 $aFinancial crises$zDeveloping countries$vCongresses 608 $aElectronic books. 615 0$aCurrency question 615 0$aForeign exchange rates 615 0$aFinancial crises 676 $a332.4/91724 701 $aDooley$b Michael P$g(Michael Patrick),$f1944-$0124601 701 $aFrankel$b Jeffrey A$0118986 712 02$aNational Bureau of Economic Research. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910451101203321 996 $aManaging currency crises in emerging markets$92216442 997 $aUNINA