Multi-agency financial stability committees (FSCs) have grown dramatically since the global financial crisis. However, most cannot direct actions or recommend to other agencies that they take actions, and most would influence policy actions only through convening and discussing risks. We...

The recent east Asian crisis has lead to calls for a new international financial architecture. This paper investigates the crisis in terms of a "grabbing hand" theory of the state. Results indicate that those economies that chose not to have floating exchange rates and chose to have...