Abstract
Financial crises such as the one from which the Asian countries are now finally emerging are an unacceptable feature of the international monetary system. This much is common ground. However, how to avoid them, or at least reduce their incidence and severity, is more controversial. Some have called for a “new financial architecture” without always being very specific about what this entails. Others have favored an incremental approach, adapting and strengthening existing mechanisms. As will become clear in the course of these remarks, I am closer to the second school of thought, though I recognize the risk in it of falling victim to forces of inertia.
Keywords
- Corporate Governance
- Financial System
- International Monetary Fund
- Financial Stability
- Exchange Rate Regime
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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© 2000 Springer Science+Business Media New York
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Crockett, A. (2000). Lessons from the Asian Crisis. In: Bisignano, J.R., Hunter, W.C., Kaufman, G.G. (eds) Global Financial Crises. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-4367-1_2
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DOI: https://doi.org/10.1007/978-1-4615-4367-1_2
Publisher Name: Springer, Boston, MA
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