Bank crises in emerging economies have been a feature of the recent global crisis, and their incidence has increased in the post-Bretton Woods era. This paper investigates the impact of financial globalization on the incidence of systemic bank crises in 20 emerging markets over the years...

This article analyses the effect of IMF programs on poverty with data from 82 countries during 1985-2000. Two indicators of poverty, infant mortality rates and the human development index (HDI), are utilized, and the effects of the IMF's concessionary and nonconcessionary programs are...

This article analyses the factors that determine the long-run real exchange rate in Argentina, Colombia and Mexico, distinguishing between real and nominal determinants. Cointegration analysis is utilised to establish that the real exchange rate has an equilibrium relationship with real...

Asset prices rose rapidly in Japan during the latter half of the 1980s, and then declined as quickly in the early 1990s. Their behaviour is consistent with the existence of speculative 'bubbles' in these markets. This paper investigates the dynamic relationships among stock and land prices in...