The essays in this volume provide a comprehensive analysis by distinguished economists of the theoretical and policy issues associated with recent financial crises in emerging markets. These essays are complemented by the comments of an equally distinguished set of discussants. The essays were originally prepared for a conference sponsored by the Center for Pacific Basin Monetary and Economic Studies at the Federal Reserve Bank of San Francisco on September 23-24, 1999. The conference brought together academies, central bankers, and other policy markers and researchers to review and compare the experiences of emerging market countries.
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