Preventing country crises and corporate failures
2002-18; June 14, 2002
Country Crises and Corporate Failures: Lessons for Prevention and Management?
The recent wave of financial crises in emerging markets-Mexico in 1994-1995, Asia in 1997-1998, Russia in 1998, and Argentina in 2001-has exacted a considerable toll in terms of lost output and welfare and at times even posed a threat to the stability of world financial markets. As a result, many policymakers and economists have focused on the lessons to be learned from these
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