Things We Learn from Crises

What lessons were learned from the financial crises in emerging economies during the nineties and the first few years of the twenty first century? What do such lessons teach us about the reach and solutions of current crises? And conversely: What does today’s crisis teach Latin American politicians and regulators about how to prevent the crises of tomorrow? This paper does not try to provide definite answers to such questions, instead it describes the similarities and differences sometimes missed by the usual studies in order to contribute to the debate on financial reform