The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994 raise serious concern about the net benefits for developing countries of large inflows of potentially reversible short-term international finance. The contributions to this volume - a mix of analytical approaches and case studies - examine the policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital movements, especially in the period before the outbreak of these crises.
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