This review considers selected websites that will be of interest to anyone involved in the analysis or regulation of emerging markets around the world. In particular, it concentrates on markets in Eastern Europe including Russia, Asia, and Latin America.

The experience of Long‐Term Capital Management (LTCM) demonstrated various ways in which highly leveraged institutions (HLIs) can threaten the stability of financial markets. This has sparked a policy debate about the possible responses by the authorities to reduce those threats. This paper...

Latin America's contagion from the Asian shock was limited because: a) the region had successfully implemented structural reforms in recent years; b) policymakers acted swiftly to make appropriate changes in fiscal and monetary policy; and c) abundant reserves facilitated a relatively smooth...

This paper discusses some of the lessons learnt from the use of the ‘bail‐out’ technique in the financial crises in Thailand, Korea and Indonesia in 1997–8. While the solution to debt crises in the past relied upon debt restructuring techniques which involved directly creditors and...

Economists have believed for a long time that financial systems are fragile in the sense that small shocks can cause serious disruption. Research has focused on phenomena, such as bank runs, which affect the stability of individual institutions. Only recently has there been interest in the...

In the aftermath of the banking crisis in South‐East Asia, the International Monetary Fund (IMF) has recommended that the South‐East Asian economies adopt several aspects of the New Zealand approach to bank supervision. The New Zealand approach relies heavily upon market incentives. This...

Given the current malaise in the Japanese banking sector and the failure of Japanese authorities to take speedy and appropriate action to address the situation, investors' confidence in Japanese financial institutions is at a very low ebb. Under pressure from both home and overseas, however, a...

During the course of 1997 Bankers Trust International plc (BTI) and the defendant company, PT Jakarta International Hotels & Development (JIHD), entered into a series of seven Indonesian rupiah/US dollar cross‐currency swap transactions. The seven transactions were made under the auspices of...

For this review, websites that provide relevant and interesting information on the recent Asian economic crisis have been selected. The amount of information available on the Web continues to expand at an incredible rate. The main problem remains, however, ie trying to identify the quality and...