Asian Financial crises

Chapter 23 Comments on “What’s Wrong with the IMF” and “Containing the Risks”

International Monetary Fund
Published Date:
January 2001
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    I review the arguments made by the two authors and emphasize the importance of ill-defined property rights as a central problem in precipitating crises. I also argue that the unfortunate handling of the failure of Long-Term Capital Management provides some lessons for crisis management in developing countries.

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