Currency crises have been recorded for a few hundreds years but their frequency increased in the second half of the 20th century along with a rapid expansion of a number of fiat currencies. Increased integration and sophistication of financial markets brought new forms and more global character...

Financial crises have become relatively frequent events since the beginning of the 1980s. They have taken three main forms: currency crises, banking crises, or both . so called twin crises. As the number of developed economies, developing countries, and economies in transition experienced severe...

The paper examines the nature of the Bulgarian banking and currency crises in 1996.1997 and evaluates the causal link between them. The analysis shows that the banking crisis has resulted from slow structural reforms, inefficient prudential regulation and prolonged unsound lending practices. The...

This paper focuses on the measurement of a contemporaneous currency crisis. The analysis covers 14 "emerging" or "transforming" economies that experienced episodes of currency crises over the last decade. It adds to well-known examples relatively littleknown evidence on the crisis depth in some...

This volume presents six monographs of currency crisis episodes in two Latin American countries in 1994-1995 (Mexico and Argentine) and four Asian countries in 1997-1998 (Thailand, Malaysia, Indonesia, and Korea). The Asian part of this volume is supplemented with a short comparative note,...

The financial innovations and increased integration of capital markets have made the nature of balance of payments turmoil much more complex, than described by firstgeneration models. The severe financial crises, which erupted in 1990's in many seemingly "invulnerable" economies that in most...