FINANCIAL CRISES

This reference collection presents the key articles and papers on the theory and history of financial crises. It includes both classic and contemporary writings on domestic financial crises, the transmission of crises between countries and the resolution of crises by both private and government authorities acting as lender of last resort. The book is divided into five sections. Section one on theories of financial crises presents two rival approaches to financial crises, the monetarist approach and the Fisher-Kindleberger-Minsky approach. It also includes recent rational expectations approaches. Section two contains readings on financial crises in US history while Section three presents case studies for other countries. Section four contains readings on the international transmission of financial crises. Section five concludes with a number of articles on the resolution of financial crises. Financial crises have been a topic of perennial interest - perhaps as old as economic science. This book contributes by presenting the most significant literature on this important topic in an accessible form.