Currency and financial crises of the 1990s and 2000s

Assaf Razin; Steven Rosefielde

doi:10.1093/cesifo/ifr016

Currency and financial crises of the 1990s and 2000s

Assaf Razin^*, Steven Rosefielde

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article › peer-review

7 Scopus citations

Abstract

We survey three distinct types of financial crises which took place in the 1990s and the 2000s: (i) The credit implosion leading to severe banking crisis in Japan, (ii) The foreign reserves' meltdown triggered by foreign hot money flight from frothy economies with fixed exchange rate regimes of developing Asian economies, and (iii) The 2008 worldwide debacle rooted in financial institutional opacity and reckless aggregate demand management, epi-centered in the US, that spread almost instantaneously across the globe, mostly through international financial networks.

Original language	English
Article number	ifr016
Pages (from-to)	499-530
Number of pages	32
Journal	CESifo Economic Studies
Volume	57
Issue number	3
DOIs	https://doi.org/10.1093/cesifo/ifr016
State	Published - Sep 2011

Keywords

Asset bubbles
Currency crises
Depression
Financial meltdown
Protracted unemployment
Self disciplined financial institution vs. regulation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1093/cesifo/ifr016

Cite this

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Currency and financial crises of the 1990s and 2000s

Abstract

Keywords

UN SDGs

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