In the years leading up to the crisis, there were a number of warning signs that signalled a breakdown of basic fiduciary soundness. The following article addresses the problem of inattention to those warning signs and calls into question the commonly proposed causes of the crisis. This paper...

In the last decade, many of the more advanced developing countries in Latin America and Asia have deregulated and opened up their financial markets. What impact has this had on the efficiency of the financial sector? How can the existence of sustained interest differentials be explained?