Financial Crises : Causes, Consequences, and Policy Responses [excerpt]

Publication cover

 

 
Excerpt
Series:
Books
Author(s):
Stijn Claessens, Ayhan Kose, Luc Laeven, and Fabian Valencia
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
February 2014
DOI:
http://dx.doi.org/10.5089/9781475543407.071
ISBN:
9781475543407
Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries are discussed. The medium-term effects of financial crises on economic growth, as well as policy measures to prevent booms, mitigate busts, and avoid crises are analyzed. Finally, policy measures for mitigating the adverse impact of crises and ways to restructure banks, households, and sovereigns are presented. The collection of research in this book provides an excellent overview of critical policy areas, with valuable lessons on how countries can better monitor their economies and financial systems.

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