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Banking, financial integration, and international crises: an overview
The devaluation of the Thau bath in July 1997 triggered a major international financial crisis in East Asia, similar in many ways to the Latin American debt crisis of the early 1980s. The baht´s devaluation led to a Seriesos sharp devaluations in several other Asian countries, in particular Indonesia, ...
Capital controls in Chile: were they effective?
Controls on international capital flows have no place in a world without policy distortions and markt failures. Capital controls can only be justified as second-best measures to compensate for nonremovable policy distortions, including inadequate regulation and supervision of the financial and corporate ...