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Private Capital Flows In The Age Of Globalization |
Edited by Uri Dadush, Director and Dipak Dasgupta, Principal Economist, Development Prospects Group, The World Bank, US and Marc Uzan, Founder and Executive Director, Reinventing Bretton Woods Committee, France
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| 2000 |
264 pp |
Hardback |
978 1 84064 214 8 |
£79.00 |
on-line discount
£71.10 |
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‘This is a penetrating study that is of great value to a wide range of professionals in fields of money, finance and banking as well as fields of economics.’
– Aslib Book Guide
In the second half of 1997 Thailand, Malaysia, Korea and Indonesia experienced a massive outflow of foreign capital – more than $100 billion. The effects of this rival the worst years of the Latin American debt crisis and the early years of the Great Depression.
The Asian crisis demonstrates how interconnected the global economy has become, and this book is the first attempt, by an international group of experts, to understand the Asian financial crisis by taking into account the dynamics of private capital flows.
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Contents: Introduction Part I: The Asian Crisis in Perspective 1. Excess Competition, Moral Hazard and Industrial Trauma in Korea 1997–8 2. The Asian Financial Crisis in Perspective 3. The East Asian Financial Crisis 4. Latin America Confronting the Asian Crisis Part II: Debt Restructuring and Orderly Work-Outs 5. Exorcizing Asian Debt 6. At the Insolvency Masquerade, What Mask for the IMF? 7. Sovereign Rescues Part III: Moral Hazard and Systemic Risk 8. Systemic Risk, Moral Hazard and the International Lender of Last Resort 9. Dealing with Systemic Risk 10. Creditor Panic, Asset Bubbles and Sharks Index
Contributors: V.K. Aggarwal, M. Aglietta, R. Chang, U. Dadush, D. Dasgupta, G. Esquivel, R. Garnaut, R.A. Gitlin, G.W. Johnson, F. Larraín B., P.D. Leake, M. Miller, F.S. Mishkin, H.K. Pyo, A.C. Rogoff, M. Uzan, A. Velasco, D. Wilson, L. Zhang
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In Association with the International Bank for Reconstruction and Development/The World Bank
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