{"product_id":"financial-crisis-contagion-and-containment-by-padma-desai-9780691113920","title":"Financial Crisis, Contagion, and Containment","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eThis book provides a sweeping, up-to-date, and boldly critical account of the financial crises that rocked East Asia and other parts of the world, beginning with the collapse of the Thai baht in 1997. Retracing the story of Asia's \"Crisis Five\"—Indonesia, Malaysia, South Korea, the Philippines, and Thailand—Padma Desai argues that the region's imprudently fast-paced opening to the free flow of capital was pushed by determined advocates, official and private, in the global economy's U.S.-led developed centre.\u003c\/p\u003e\n\n\u003cp\u003eTurmoil ensued in these peripheral economies, the Russian ruble faltered, and Brazil was eventually hit. The inequitable centre-periphery relationship also extended to the policy measures that the crisis-swept economies implemented under International Monetary Fund bailouts, which intensified the downturns induced by the panic-driven outflows of short-term capital.\u003c\/p\u003e\n\n\u003cp\u003e\u003cem\u003eFinancial Crisis, Contagion, and Containment\u003c\/em\u003e examines crisis origin and resolution in a comparative perspective by combing empirical evidence from the most robust economies to the least. Why is the U.S. relatively successful at weathering economic ups and downs? Why is Japan stuck in policy paralysis? Why is the European Central Bank unable to achieve both inflation control and stable growth?\u003c\/p\u003e\n\n\u003cp\u003eHow can emerging markets avoid turbulence amid free-flowing speculative capital from private lenders of the developed centre? Engaging and nontechnical yet deeply insightful, this book appears at a time when the continuing turmoil in Argentina has revived policy debates for avoiding and addressing financial crises in emerging market economies.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Hachette Aotearoa New Zealand","offers":[{"title":"Default Title","offer_id":47596405653740,"sku":"9780691113920","price":182.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780691113920-financial-crisis-contagion-and-containment.jpg?v=1777924173","url":"https:\/\/bookhero.co.nz\/products\/financial-crisis-contagion-and-containment-by-padma-desai-9780691113920","provider":"Book Hero","version":"1.0","type":"link"}