3. What Hurts Emerging Markets Most?

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Acknowledgments xi
4. Introduction 1
5. I. The Current Account and Vulnerability to Crisis
6. 1. Does the Current Account Matter? 21
7. 2. Are Trade Linkages Important Determinants of Country Vulnerability to Crises? 77
8. II. International Financial Players and Contagion
9. 3. What Hurts Emerging Markets Most? 133
10. 4 When Is U.S. Bank Lending to Emerging Markets Volatile? 171
11. 5. The Role of Large Players in Currency Crises 197
12. 6. Contagion 269
13. 7. Credit, Prices, and Crashes 335
14. III. Capital Controls
15. 8. Did the Malaysian Capital ControlsWork? 393
16. 9. Malaysia’s Crisis 441
17. IV. Balance Sheets and “Crony Capitalism”
18. 10. Negative Alchemy? 461
19. 11. Domestic Bank Regulation and Financial Crises 507
20. 12. Dollarization of Liabilities, Net Worth Effects, and Optimal Monetary Policy 559
21. 13. Chaebol Capitalism and the Currency-Financial Crisis in Korea 601
22. 14. Living with the Fear of Floating 663
23. 15. Policy in an Economy with Balance Sheet Effects 705
24. V. Overview
25. 16. A Primer on Emerging-Market Crises 743
26. Contributors 755
27. Author Index 759
28. Subject Index 765