Preventing Currency Crises in Emerging Markets

Preventing Currency Crises in Emerging Markets
Sebastian Edwards and Jeffrey A. Frankel, editors

The University of Chicago Press, 2002
Cloth: $100.00
770 pages
ISBN: 0-226-18494-3 (cloth)

Table of Contents:

    Introduction
    Sebastian Edwards and Jeffrey A. Frankel

    I. The Current Account and Vulnerability to Crisis

    1. Does the Current Account Matter?
    Sebastian Edwards

      Comment: Alejandro M. Werner

    Discussion Summary

    2. Are Trade Linkages Important Determinants of Country Vulernability to Crises?
    Kristin J. Forbes

      Comment: Federico Sturzenegger

    Discussion Summary

    II. International Financial Players and Contagion

    3. What Hurts Emerging Markets Most? G3 Exchange Rate or Interest Rate Volatility
    Carmen M. Reinhart and Vincent Raymond Reinhart

      Comment: Joshua Aizenman

    Discussion Summary

    4. When Is U.S. Bank Lending to Emerging Markets Volatile?
    Linda S. Goldberg

      Comment: Simon Johnson

    Discussion Summary

    5. The Role of Large Players in Currency Crises
    Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini

      Comment: Jaume Ventura

    Discussion Summary

    6. Contagion: How to Measure It?
    Roberto Rigobon

      Comment: Enrique B. Mendoza

    Discussion Summary

    7. Credit, Prices, and Crashes: Business Cycles with a Sudden Stop
    Enrique G. Mendoza

      Comment: Joshua Aizenman

    Discussion Summary

    III. Capital Controls: The Malaysian Experience

    8. Did the Malaysian Capital Controls Work?
    Ethan Kaplan and Dani Rodrik

      Comment: Liliana Rojas-Suarez

    Discussion Summary

    9. Malaysia's Crisis: Was It Different?
    Rudi Dornbusch

      Comment: Michael P. Dooley

    Discussion Summary

    IV. Balance Sheets and "Crony Capitalism"

    10. Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises
    Shang-Jin Wei and Yi Wu

      Comment: Martin Feldstein

    Discussion Summary

    11. Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia
    Robert Dekle and Kenneth Kletzer

      Comment: Paolo Pesenti

    Discussion Summary

    12. Dollarization of Liabilities, Net Worth Effects, and Optimal Monetary Policy
    Luis Felipe Céspedes, Roberto Chang, and Andrés Velasco

      Comment: Nouriel Roubini

    Discussion Summary

    13. Chaebol Capitalism and the Currency-Financial Crisis in Korea
    Anne O. Krueger and Jungho Yoo

      Comment: Jorge Braga de Macedo

    Discussion Summary

    14. Living with the Fear of Floating: An Optimal Policy Perspective
    Amartya Lahiri and Carlos A. Végh

      Comment: Eduardo Borensztein

    Discussion Summary

    15. Policy in an Economy with Balance Sheet Effects
    Aaron Tornell

      Comment: Charles W. Calomiris

    Discussion Summary

    V. Overview

    16. A Primer on Emerging-Market Crises
    Rudi Dornbusch