TITLE

WHAT HAVE WE LEARNED FROM THE 'TEQUILA EFFECT' AND ASIAN CURRENCY CRISIS?

AUTHOR(S)
Zhang, Manli
PUB. DATE
September 2000
SOURCE
Multinational Business Review (St. Louis University);Fall2000, Vol. 8 Issue 2, p64
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This paper compares the recent Asian currency crisis with the Mexican financial turmoil a few years earlier. It examines the benefits and risks associated with financial liberalization in emerging markets and proposes several solutions that are aimed at minimizing such risks. The author concludes that having a sustainable macroeconomic policy framework and a healthy financial system in place is an important precondition for liberalizing capital accounts. Fully opening a capital account without the support of sound polices and the strength of financial systems and institutions may prove to be extremely disruptive to economic growth.
ACCESSION #
3413101

 

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