Financial Crisis, Contagion, and Containment - From Asia to Argentina (Hardcover)

"Padma Desai attacks head-on fundamental questions about the compatibility of small emerging country economies with inherently volatile global financial markets--questions that have too often been ignored or glossed over in the policy debate."--Paul Volcker, Former Chairman of the Federal Reserve

"Padma Desai's thorough and insightful analysis of the financial crises that have devastated many emerging market economies over the past several years is essential reading for anyone seeking to understand the downside of the global financial system. Her forceful policy recommendations deserve to be considered at the highest level."--George Soros

"Padma Desai's stimulating and path-breaking comparative analysis of the pace and sequencing of financial liberalization processes has profound implications for the planning of national policies and the structure of international financial cooperation. The book makes an outstanding contribution to our understanding of these complex issues, and to the designing of sensible proposals for rebuilding the international financial architecture."--Manmohan Singh, Former Finance Minister of India

"Professor Padma Desai has long stood as a voice for caution, pragmatism, and common sense against those who would impose untested economic models on economies in transition. In this book, she turns her attention to the central asymmetry of the world financial system: rich countries retain the privilege of managing their economies, while poor countries, having liberalized their financial markets prematurely, remain hostage to volatile capital flows, and when the inevitable crisis strikes, have to succumb to ill-fitting arrangements designed for them by the International Monetary Fund. This is a book that should be read widely."--Dani Rodrik, Harvard University

"This fascinating book presents an impressive epic on the financial crises that have afflicted a large portion of the world. While comparing alternative views for the remedy, it presents truly provocative criticisms on the IMF's former policy of trying to sustain free capital mobility for countries facing crisis. Based on the most informed knowledge of this subject but presented in a nontechnical form, with lucid descriptions of familiar crises, it will be appreciated by students and scholars as well as a broader intellectual audience."--Koichi Hamada, President, Economic and Social Research Institute, Cabinet Office of the Japanese Government

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