'Emerging markets and macroeconomic volatility: Lessons from a decade of financial debacles', a symposium for the Journal of International Economics

摘要

The period of turbulence in emerging economies that started in 1994 with the Mexican collapse and continued unabated up to 2004 with the crisis of the Dominican Republic has raised several critical questions for researchers and policymakers in the International Macroeconomics arena. During these 10 years, many emerging economies were hit by sudden, large reversals in capital inflows, followed by severe financial crises and deep economic recessions. In most cases, the recessions were the deepest that the affected countries have experienced since the Great Depression of the 1930s. During the same 10 years, a large literature aiming to explain these crises and to propose policy strategies to prevent them in the future has emerged. The papers presented in this Symposium Issue represent the research frontier on this subject and reflect the lessons derived from the growing body of empirical evidence and economic research on emerging markets crises.