"The book examines why able economic managers in Mexico, on the basis of contemporaneous information in their possession, made the decisions they did, and with such disastrous consequences. The major conclusion is that decision-making was heavily influenced by the cultural milieu in Mexico,...

There is no agreement regarding the growth-enhancing effects of financial liberalization, mainly because it is associated with risky international bank flows, lending booms, and crises. In this paper we make the case for liberalization despite the occurrence of crises. We show that in developing...

There is no agreement regarding the growth-enhancing effects of financial liberalization, mainly because it is associated with risky international bank flows, lending booms, and crises. In this paper we make the case for liberalization despite the occurrence of crises. We show that in developing...