NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Crises in Emerging Market Economies: A Global Perspective

Guillermo A. Calvo

NBER Working Paper No. 11305
Issued in May 2005

---- Acknowledgements -----

This is a revised version of my paper for the Frank D. Graham Memorial Lecture, Princeton University, March 30, 2005. This paper greatly benefited from comments by Kevin Cowan, Enrique Mendoza, Carmen Reinhart and Ernesto Talvi. Special thanks go to Rudy Loo-Kung and John D. Smith for first-rate research assistance, and editing. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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