This BIS Paper discusses lessons provided by the global financial crisis for inflation targeting and financial stability. It contains selected presentations from the BIS-sponsored sessions at two Latin American and Caribbean Economic Association (LACEA) annual meetings: November 2008, in Rio de...

As the globalization of financial markets continues, we urgently need to understand the crises that have plagued these markets and the policies best suited to preventing such crises in the future. In this book, a prominent group of economists and policymakers blend conceptual analysis and policy...

The 1990s witnessed several acute currency crises among developing nations that invariably spread to other nearby at-risk countries. These episodes—in Mexico, Thailand, South Korea, Russia, and Brazil—were all exacerbated by speculative foreign investments and high-volume movements of...