For more than a decade before the great crisis of 1997-98, East Asian countries pegged "softly" to the U.S. dollar. In the period of currency chaos from mid 1997 through 1998 with exchange depreciations in eight East Asian countries, massive deflationary pressure in dollar terms which was...

The transition from socialism to capitalism poses severe problems of financial management that have yet to be resolved in principle, let alone in practice. One unfortunate consequence is continual financial turmoil as socialist economies of the Soviet Union and Eastern Europe attempt reform....

¿Cuáles son los límites para una desregulación exitosa en la liberalización del sistema bancario en los países en desarrollo? La mantención de tasas de interés reales positivas, tanto en los depósitos como en los préstamos, alienta una inversión descentralizada, intensa y eficiente....

Purpose – The purpose of this paper is to present an overview of China's exchange rate policy and fiscal expansion. Design/methodology/approach – This paper is a reprint of a Financial Times online forum contribution dated 10 February 2009. Findings – The paper finds that there is a good...

A comment on Lars Jonung and Eoin Drea's (2010) article, "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989-2002." _Econ Journal Watch_ 7(1):4-52. Link