developing and emerging-market economies (with 461 IMF stabilization programs and 160 currency crises), we find that currency … of payments or currency crises do not appear to further damage short-run growth prospects. Countries participating in IMF …This paper investigates the output effects of IMF-supported stabilization programs, especially those introduced at the …

deeply flawed institutions and practices of what is often referred to as the New Financial Architecture (NFA) a globally … NFA generated excessive risk-taking throughout financial markets; 3) mortgage-backed securities central to the boom were … Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’ by James Crotty …

deeply flawed institutions and practices of what is often referred to as the New Financial Architecture (NFA) – a globally … NFA generated excessive risk-taking throughout financial markets; 3) mortgage-backed securities central to the boom were … Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’ by James Crotty …

Cologne G7 decisions, the implementing work of the IMF (and the World Bank). However, the Washington-consensus policies and … been hotly contested as ineffective or unduly harsh. Many critics have proposed to transform the IMF radically. Although no …

Cologne G7 decisions, the implementing work of the IMF (and the World Bank). However, the Washington-consensus policies and … been hotly contested as ineffective or unduly harsh. Many critics have proposed to transform the IMF radically. Although no …

emerging markets. We find that after 1994, credit ratings predict debt crises but fail to anticipate currency crises. When debt …

This paper proposes a model of contagious currency crises: crises transmit across countries by raising the risk premium …

economies vulnerable to currency crises under high capital mobility. It is argued in the paper that vulnerability to crisis can …

, not only actual devaluations but also an increasing crisis probability may trigger currency crises elsewhere. We show that … not only fundamental weaknesses but also spontaneous shifts in market sentiment may play a role in precipitating currency … crises …