This important and timely two-volume collection presents the key
issues and processes that surround recent large-scale financial
crises - in Asia, Latin America, and elsewhere - and identifies
procedures that will help to avoid and manage crises. The articles
are drawn from leading journals in political economy, international
relations, political science and economics. The reconstruction of
the international financial architecture is identified as a working
compromise which brings together neo-Keynesian and neo-liberal
principles but which, in itself, cannot fully answer the challenges
of systemic risk. Globalization processes contribute to systemic
risk and complicate the efforts of the IMF and other international
financial institutions to create order and stability. The Political
Economy of Financial Crises will be invaluable to a broad
interdisciplinary audience as a reference source to support
teaching and research.
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