This study reviews broadly the experience of the last decade on crisis prevention and
management. It seeks to draw greater attention to policy decisions that are made during the …

Some important events and trends in recent years have intensified concerns about FD. First,
there is mounting evidence that FD has increased or remained stable despite declining …

The global financial crisis triggered severe shocks for developing countries, whose embrace
of greater commercial and financial openness has increased their exposure to external …

Latin America and the Caribbean has been one of the regions of the world with the greatest
inequality. This book explores why the region suffers from such persistent inequality …

The politics surrounding exchange rate policies in the global economy The exchange rate is
the most important price in any economy, since it affects all other prices. Exchange rates are …

Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and
Uruguay, framed by a comprehensive discussion of the history, economic theory, legal …

The presence in residents' portfolio of foreign-currency assets and liabilities (or 'financial
dollarization') has been alleged to influence monetary policy in developing economies and …

In recent years, the term “fear of floating” has been used to describe exchange rate regimes
that, while officially flexible, in practice intervene heavily to avoid sudden or large …

Many prominent critics regard the international financial system as the dark side of
globalization, threatening disadvantaged nations near and far. But in The Next Great …

This paper discusses the benefits and risks that financial globalization entails for developing
countries. Financial globalization can lead to large benefits, particularly to the development …