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This Paper reconsiders the 1992/3 crisis in the European Monetary System in light of its emerging market successors. That episode was a predecessor of the Mexican and Asian crises in the sense that both capital movements and domestic financial fragility played important roles. The output effects...
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We present new data documenting European capital issues in major financial centers from 1919 to 1932. Push factors … financial centers at the end of the 1920s figured importantly in the decline in foreign lending. We draw parallels with Europe …
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length before or since. The elements of Europe's growth miracle -- wage moderation, high investment and rapid export growth …
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