China's recent investment boom looks much like the investment boom in the Asian tigers of the 1990s. Both were marked by a surge in bank credit to the private sector, a real estate boom and questions about the quality of domestic financial intermediation. Yet, China has few of the external...

Cover -- Contents -- Preface -- Acknowledgments -- Chapter 1 Introduction -- Why Crisis Resolution? -- Purging Unhelpful Myths -- Closing the Gap Between Rhetoric and Reality -- Agenda for Reform -- Structure of the Book -- Chapter 2 New Nature of Emerging-Market Crises -- Sources of...