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Books > History > History of specific subjects > Economic history
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Understanding Financial Crises (Paperback)
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Understanding Financial Crises (Paperback)
Series: Clarendon Lectures in Finance
Expected to ship within 12 - 17 working days
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What causes a financial crisis? Can financial crises be anticipated
or even avoided? What can be done to lessen their impact? Should
governments and international institutions intervene? Or should
financial crises be left to run their course? In the aftermath of
the recent Asian financial crisis, many blamed international
institutions, corruption, governments, and flawed macro and
microeconomic policies not only for causing the crisis but also
unnecessarily lengthening and deepening it.
Based on ten years of research, the authors develop a theoretical
approach to analyzing financial crises. Beginning with a review of
the history of financial crises and providing readers with the
basic economic tools needed to understand the literature, the
authors construct a series of increasingly sophisticated models.
Throughout, the authors guide the reader through the existing
theoretical and empirical literature while also building on their
own theoretical approach. The text presents the modern theory of
intermediation, introduces asset markets and the causes of asset
price volatility, and discusses the interaction of banks and
markets. The book also deals with more specialized topics,
including optimal financial regulation, bubbles, and financial
contagion.
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