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Emerging Market Failure

其他書名	The Case of Mexico
出版	University of Miami, 2000
URL	http://books.google.com.hk/books?id=K06zAAAAIAAJ&hl=&source=gbs_api

註釋In the years since the 1994/95 financial crisis, the international financial system has displayed seemingly contradictory characteristics. In the advanced economies, equity values have been rising to unprecedented levels. Mechanisms for risk management have become increasingly efficient and are being employed on a large scale. Yet for many developing economies, the latter half of the 1990s has been characterized by currency speculation, devaluation, investment capital reversals, and IMF bailouts. This has led some in the academic and policy-making spheres to suggest that individual governments have lost their ability to guide their economies and that there are inescapable forces in a globalized world economy that can destroy even an economy that has followed a sound economic policy path. This dissertation takes an in-depth look at the Mexican case in order to explore this issue. The findings of the study permit a re-framing of the issue of financial crises. It moves beyond the short-term policies and outcomes that occurred in the context of 1994/95, and explores economic policy paths and the fundamentals of the economy and the political system, in the context of evolution in the international economy.