Financial crises in the emerging markets: the roles of the public and private sectors
AbstractIn the wake of the emerging market turmoil of recent years, a broad consensus has developed on ways of strengthening the institutional framework to create more robust, and thus more crisis-resistant, economies. But there is no comparable consensus on how best to handle crises once they do erupt, or the respective roles of public institutions and the private sector in containing and resolving such crises. This article examines some of the key issues and outlines a flexible, managed-market approach to crisis resolution that allows for different forms of participation by the public and private sectors.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 6 (2000)
Issue (Month): Nov ()
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