In this paper we examine closely the financial events following the Mexican peso devaluation to uncover new lessons about the nature of financial crises. We explore the question of why, during 1995, some emerging markets were hit by financial crises while others were not. To this end, we ask...

In this paper we examine closely the financial events following the Mexican peso devaluation to uncover new lessons about the nature of financial crises. We explore the question of why, during 1995, some emerging markets were hit by financial crises while others were not. To this end, we ask...

Frontmatter -- Contents -- Preface -- One. The Next Great Globalization: A Force for Good? -- Part One. Is Financial Globalization Beneficial? -- Two. How Poor Countries Can Get Rich: Strengthening Property Rights and the Financial System -- Three. Financial Development, Economic Growth, and...