Crisis Prevention

SouthViews No. 153, 28 July 2017

Asian Financial Crisis: Lessons Learned and Unlearned

By Yılmaz Akyüz

Debates are taking place on whether there will be another financial crisis, whether in some part of the world or that is global in scope. Governments draw lessons from financial crises to adopt measures to prevent their recurrence. However, such measures are often designed to address the root causes of the last crisis but not the next one. More importantly, they can actually become the new sources of instability and crisis. (more…)


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