Khan presents a new theory of financial crises in the age of
globalization from an evolutionary perspective and suggests
policies that may be necessary for averting or managing new
financial crises. Starting with the Asian financial crises, he
identifies new types of financial crises that result from a
combination of liberalization, weak domestic institutions for
economic governance and a chaotic global market system without
global governance institutions. Suggested solutions involve
building new institutions for global and domestic governance and
domestic and international policy reforms.
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