Responding to Financial Crisis : Lessons from Asia then, the United States and Europe now.

Cover -- Table of Contents -- Preface -- Chapter 1 Introduction -- The United States and Europe Can Learn from Japan's "Lost Decades" -- Central Bank Actions in Advanced Economies during the Global Financial Crisis Had Net Positive Impact -- Asian Countries Fared Better during the Global Financial Crisis than during the Asian Crisis -- The West Failed to Practice What It Preached during the Asian Crisis -- The Role of the International Monetary Fund Is Crucial -- Regional Financial Arrangements and Global Institutions Should Increase Coordination -- Regional Financial Institutions Face the Same Challenges as Global Institutions -- Most of Emerging Asia Is in a Solid Debt Position, but Japan Faces Challenges -- Chapter 2 Banking Crises and "Japanization": Origins and Implications -- Japan's Stagnation Experience -- International Comparative Perspectives of Banking Crisis Experiences -- Econometric Analysis of Banking Crises and Growth -- Conclusion and Policy Implications -- References -- Appendix 2A -- Chapter 3 Responses of Central Banks in Advanced Economies to the Global Financial Crisis -- How Have Central Banks Responded to the Crisis? -- How Effective Were the Responses? -- Conclusions -- References -- Appendix 3A -- Chapter 4 Why Did Asian Countries Fare Better during the Global Financial Crisis than during the Asian Financial Crisis? -- Macroeconomic Performance of Five Asian Countries: TheAsian versus the Global Financial Crisis -- Empirical Framework -- Empirical Results -- Concluding Observations -- References -- Chapter 5 Policy Advice and Actionsduring the Asian and Global Financial Crises -- The Asian Financial Crisis -- The US Financial Crisis -- Conclusion -- References -- Chapter 6 Evolution of the Asian and European Financial Crises: Role of the International Monetary Fund -- Crisis Origins.

Evolution of the Crises in Asia and Europe -- Lasting Lessons? -- References -- Chapter 7 Global and Regional Financial Safety Nets: Lessons from Europe and Asia -- Rise of Regional Arrangements -- Cooperation Challenges and Policy Prescriptions -- Conclusion -- References -- Appendix 7A -- Chapter 8 Regional Responses to Financial Crises: The Americas, East Asia, and Europe -- Europe: The Road to the European Stability Mechanism and the Fiscal Compact -- Asia: Intergovernmentalism and Limits of the Chiang Mai Initiative -- The Western Hemisphere: American Leadership, Weak Institutions -- Conclusion -- References -- Chapter 9 Sovereign Debt and Asia: International Lessons and Emerging Issues -- The Latin American Crisis in the 1980s -- The East Asian Crisis of the Late 1990s -- The Euro Area Debt Crisis since 2010 -- Debt Dynamics -- Debt Sustainability in Asia -- Fiscal Sustainability -- Domestic Bond Markets -- The Japan Problem -- Debt and Growth -- Conclusion -- References -- About the Contributors -- Index -- Other Publications from the Peterson Institute for International Economics -- Back Cover.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.