We survey three distinct types of financial crises which took place in the 1990s and the 2000s: (i) The credit implosion leading to severe banking crisis in Japan, (ii) The foreign reserves’ meltdown triggered by foreign hot money flight from frothy economies with fixed exchange rate regimes...

"Using an early warning system (EWS) model, this paper provides more empirical evidence on the causes of the 1997 Asian financial crisis, with a view to discriminating between the two hypotheses of "weak fundamentals" and "investors' panic." The results show that there are strong warning signals...