Abstract
Over the past 50 years, many developing countries have displayed a high degree of vulnerability to economic crises for a number of reasons, including poor macroeconomic management, high and unsustainable levels of external debt, large fiscal deficits and government debt levels, banking crises, bursting real estate bubbles, political instability, and a high degree of reliance on volatile commodity exports. These vulnerabilities often magnify the transmission effects on the domestic economy from external shocks. Crisis prevention and resolution is therefore a key focus for national macroeconomic policy as well as for international policymakers through the Bretton Woods institutions as well as regional initiatives.
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Biswas, R. (2018). Crisis Prevention and Resolution in Emerging Markets. In: Emerging Markets Megatrends. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-78123-5_11
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DOI: https://doi.org/10.1007/978-3-319-78123-5_11
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-78122-8
Online ISBN: 978-3-319-78123-5
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