Currency Crises in Emerging Markets

Description

Currency Crises in Emerging Markets, prepared by Warsaw-based Center for Social and Economic Research (CASE), discusses various aspects of currency crises in emerging-market economies: The definitions and theoretical models of currency crises, the causes, management and propagation (contagion effect) of crises, their economic, social and policy consequences, the role of international financial institutions, and crisis prevention. In addition, five case studies of currency crises in Central and Eastern Europe are presented. Front Matter....Pages i-xv Currency Crises in Emerging-Market Economies: An Overview....Pages 1-28 Predicting Currency Crises, the Role of Multiple Equilibria and the Contagion Effect....Pages 29-47 International Liquidity and Currency Crisis Costs....Pages 49-72 Currency Crises in the Context of Exchange Rate Regime Choice....Pages 73-93 Currency Crises and Fiscal Imbalances — Transition Countries’ Perspective....Pages 95-123 Propagation of Currency Crises — The Case of the Russian Crisis....Pages 125-144 The Economic and Social Consequences of Currency Crises....Pages 145-168 The Failure of the IMF in Preventing Currency Crises in CIS Countries....Pages 169-195 The Bulgarian Currency Crisis of 1996–1997....Pages 197-220 The Czech Currency Crisis of 1997....Pages 221-234 The Russian Currency Crisis of 1998....Pages 235-256 The Ukrainian Currency Crisis of 1998....Pages 257-274 The Moldovan Currency Crisis of 1998....Pages 275-292 Back Matter....Pages 293-298