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Series on Central Banking 03: Banking, Financial Integration and International Crises

Series on Central Banking 03: Banking, Financial Integration and International Crises

During the past decade has enhanced market discipline but also caused greater strain in many emerging market economies' financial sectors, especially their banking systems. The potential benefits of financial integration, although large in the long run, may be outweighed in the short run if the transition process is inadequately managed and countries end up in a crisis. There is great need, especially among policy makers in developing countries, for policy advice on how to become financially integrated without increasing macro financial vulnerability. This book attempts to partly fulfill this need by presenting new research on the relationship among institutional development, financial development, economic growth, boom-bust cycles and banking crises. Since understanding these relationships is essential to properly manage the transition towards full financial integration, this book should be of interest to policy makers and development economists alike.

Language: English

Edited by: Leonardo Hernández y Klaus Schmidt-Hebbel

Published: July 2002

$15.000

Available for free in digital format in the Digital Repository and Institutional Website

Work belonging to the Collection of Paintings of the Central Bank of Chile: "Damas Chilenas" by Pedro Subercaseaux (Lithograph on paper,18,8 x 26,7 cm.)