Global Governance And Financial Crises

This text discusses the role of global governance in managing financial crises. It poses questions about the rationality of global financial markets and the potential for manias to occur. It also explores whether crises should be allowed to run their course or if intervention from a lender of last resort is necessary. The book includes chapters that analyze various financial crises, from Mexico in 1994 to more recent ones in Turkey and Argentina. The study combines economic history, political economy, and analytical economic theory to provide a comprehensive understanding of this important topic. The book has been praised for its coverage of theory, policy, and history.

Are global financial markets rational or are manias possible? Should crises be allowed to run their course and purge the system? Should a lender of last resort intervene to dampen their impact on the real economy? This text addresses these and other questions. The editors have pulled together a collection of chapters that review the spate of financial crises that have occurred in recent years starting with Mexico in 1994 and moving on to more recent crises in Turkey and Argentina. This authoritative study provides an understanding of this important area with a combination of economic history, political economy and developments in analytical economic theory. Review: Covering topics that span theory, policy, and history, contributors review the monetary crises that have occurred in recent years, starting with Mexico in 1994 and moving on to more recent situations in Turkey and Argetina.. -Business Horizons