IPD AI Insights

Macroeconomic Balances in Emerging Economies

This paper stresses the differences between the old and new varieties of financial crises in emerging economies. It examines the main features of the three financial capital surges and how capital surges have led to destabilizing cycles in the macroeconomic ecnvironment of most emerging economies. The economic and social costs of the Tequila and Asian crises are also covered.

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