Lessons for Other Developing Countries from Recent Asian Financial Crisis

Globalization of Financial Markets and the Asian Crisis: Some Lessons for Third World Developing Countries

Some Lessons of the East Asian Financial Crisis

I would like to discuss improvements in our understanding of economic development, in particular the emergence of what is sometimes called the "post-Washington consensus." My remarks elaborate on two themes. The first is that we have come to a better understanding of what makes markets work well. The Washington consensus held that good economic performance required liberalized trade, macroecono...

The California Power Crisis: Lessons for Developing Countries

The U.S. Financial Crisis: Lessons From Sweden

In the early 1990s, Sweden faced a banking and exchange rate crisis that led it to rescue banks that had experienced large losses on their balance sheets and that threatened a collapse of the banking system. Some analysts and others argue that Sweden’s experience could provide useful lessons for the execution and implementation of the Emergency Economic Stabilization Act of 2008. The banking cr...

The Financial Crisis of 2008 and the Developing Countries

Following the financial crisis that broke in the US and other Western economies in late 2008, there is now serious concern about its impact on the developing countries. The world media almost daily reports scenarios of gloom and doom, with many predicting a deep global recession. This paper critically discusses this and concludes that as far as the developing countries are concerned, a bit more...