"The aim of this book is to publish new empirical and theoretical chapters that will help central banks towards development, governance, and policy transformations to safeguard economic and financial stability."

This paper reviews the nature of central bank involvement in 26 episodes of financial disturbance and crises in Latin America from the mid-1990s onwards. It finds that, except in a handful of cases, large amounts of central bank money were used to cope with large and small crises alike. Pouring...