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The currency crises of the 1990s all exhibit a divergence of the nominal and the real exchange rate together with an increase in the negative current account. The nominal rate does not reflect inflation differences fully and the ensuing real appreciation leads to a negative current account. This...
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This book provides a sweeping, up-to-date, and boldly critical account of the financial crises that rocked East Asia … and other parts of the world beginning with the collapse of the Thai baht in 1997. Retracing the story of Asia's ""Crisis …
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