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Emerging Economies Crises: Lessons from the 1990’

Author

Listed:
  • Sebastjan Strasek

    (University of Maribor, Slovenia)

  • Timotej Jagric

    (University of Maribor, Slovenia)

  • Natasa Spes

    (University of Maribor, Slovenia)

Abstract

The paper examines the financial crises of the 1990s. They represent a new kind of crises, as they do not seem to conform to the so-called first generation and second generation literature on currency crises. The outburst of the Asian crises brought a new challenge for economic policy. The attention has been placed on the self-fulfilling character of the speculative attacks and microeconomic weaknesses. The first part of the paper reviews the recent theoretical literature on financial crises, the second part addresses some lessons for emerging economies. The authors consider the policies to manage financial crises and reduce the risks associated with them.

Suggested Citation

  • Sebastjan Strasek & Timotej Jagric & Natasa Spes, 2007. "Emerging Economies Crises: Lessons from the 1990’," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 5(3), pages 289-304.
    • Handle: RePEc:mgt:youmgt:v:5:y:2007:i:3:p:289-304
    as

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    References listed on IDEAS

    as
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    6. Roberto Chang & Andres Velasco, 1998. "Financial Crises in Emerging Markets," NBER Working Papers 6606, National Bureau of Economic Research, Inc.
    7. Mr. Paul R Masson, 1998. "Contagion: Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria," IMF Working Papers 1998/142, International Monetary Fund.
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    Keywords

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    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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