The Current International Financial Crisis: How Much is New?

21 Pages Posted: 13 Sep 1999

See all articles by Steven B. Kamin

Steven B. Kamin

Board of Governors of the Federal Reserve System

Date Written: June 1999

Abstract

The paper surveys a broad array of data to compare the scope and impact of three emerging market financial crises: the debt crisis of the 1980s, the Mexican financial crisis of 1994-95, and the current international financial crisis. While certain conventional views regarding the three episodes are supported by the data examined in this paper, we find that in several respects, the current crisis is more similar to prior emerging market crisis episodes than is commonly believed.

JEL Classification: F32, F41

Suggested Citation

Kamin, Steven B., The Current International Financial Crisis: How Much is New? (June 1999). Available at SSRN: https://ssrn.com/abstract=171714 or http://dx.doi.org/10.2139/ssrn.171714

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