Conventional wisdom has it that the Mexican crisis of 1994-95 was "the first financial crisis of the 21st century." In this paper I argue that it may be better understood as the last financial crisis of the 19th. The crisis in Mexico exhibits striking similarities to the Baring Crisis of 1890, an event that did much to shape modern opinion about the causes and consequences of financial crises and the role for official management.
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Paper provided by EconWPA in its series International Trade with number
9805001.
Find related papers by JEL classification: F1 - International Economics - - Trade O1 - Economic Development, Technological Change, and Growth - - Economic Development
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