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The Routes to Crisis Contagion

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  • Robert Dunn Jr

Abstract

This economist argues that financial crises can easily spread through the international capital markets. Thus, arguments that we do not need a lender of last resort, such as the International Monetary Fund, are misdirected. He also argues for better financial information, reformed bankruptcy laws, and more moderate use of short-term debt.

Suggested Citation

  • Robert Dunn Jr, 2001. "The Routes to Crisis Contagion," Challenge, Taylor & Francis Journals, vol. 44(6), pages 45-58.
    • Handle: RePEc:mes:challe:v:44:y:2001:i:6:p:45-58
    DOI: 10.1080/05775132.2001.11034129
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    References listed on IDEAS

    as
    1. Taimur Baig & Ilan Goldfajn, 1999. "Financial Market Contagion in the Asian Crisis," IMF Staff Papers, Palgrave Macmillan, vol. 46(2), pages 1-3.
    2. George Soros, 1999. "The International Financial Crisis," Challenge, Taylor & Francis Journals, vol. 42(2), pages 58-76, March.
    3. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    4. Glick, Reuven & Rose, Andrew K., 1999. "Contagion and trade: Why are currency crises regional?," Journal of International Money and Finance, Elsevier, vol. 18(4), pages 603-617, August.
    5. Graciela L. Kaminsky & Carmen M. Reinhart, 2001. "Bank Lending and Contagion: Evidence from the Asian Crisis," NBER Chapters, in: Regional and Global Capital Flows: Macroeconomic Causes and Consequences, pages 73-99, National Bureau of Economic Research, Inc.
    6. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    7. Kaminsky, Graciela L. & Reinhart, Carmen M., 2000. "On crises, contagion, and confusion," Journal of International Economics, Elsevier, vol. 51(1), pages 145-168, June.
    8. Calvo, Sara & Reinhart, Carmen, 1996. "Capital flows to Latin America : Is there evidence of contagion effects?," Policy Research Working Paper Series 1619, The World Bank.
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