- Pamphlet
- Publisher: Catholic Institute for International Relations (31 Dec 1999)
- ISBN-10: 1852872233
- ISBN-13: 978-1852872236
- Amazon Bestsellers Rank: 5,171,616 in Books (See Top 100 in Books)
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Product Description
Book Description
Financial crises are nothing new. But those that swept Mexico, East Asia, Russia and Brazil in the late 1990s differed fundamentally from the debt crises of the previous decade.
This paper argues that the more recent crises arose largely from the way in which international financial markets operate, and that the standard International Monetary Fund and World Bank responses made things worse, not only for the peoples of the crisis-affected countries, but also for developed-country governments and their commercial interests. The author presents a proposal for institutional reform that would address the new type of financial crisis.
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