What have we learned from recent financial crises and policy responses?
AbstractThis paper draws some policy lessons from recent financial crises. Three forms of financial instability are distinguished: short-term volatility, medium-term misalignments including excessive international capital flows, and contagion across both markets and countries. Some underlying factors contributing to each form of instability are identified and specific public policies are recommended to help alleviate each.
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Bibliographic InfoPaper provided by Bank for International Settlements in its series BIS Working Papers with number 84.
Length: 37 pages
Date of creation: Jan 2000
Date of revision:
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