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About this product
- DescriptionInternational investors poured vast sums of money into East Asian and Latin American countries during the mid-1990s, when the emerging market boom was at its peak. Then Thailand stumbled and panic seized the markets, and boom gave way to bust. Investors suffered large financial losses, while Asian countries suddenly experienced large capital outflows and the macroecomic pressures these wrought plunged countries that had been growing rapidly ( miraculously ) into crisis. Much the same had happened in Latin America when the debt crisis broke in 1982. This book investigates what can be done to make the international capital market a constructive force in promoting development in emerging markets. John Williamson concludes that the problem of cyclicality that has undermined the value of international borrowing cant be tackled just, or even mainly, from the supply side, but will require actions on the part of both creditors and debtors.
- Author BiographyJohn Williamson, senior fellow (retired), was associated with the Institute from 1981 to 2012. He was project director for the UN High-Level Panel on Financing for Development (the Zedillo Report) in 2001; on leave as chief economist for South Asia at the World Bank during 1996-99; economics professor at Pontifica Universidade Catolica do Rio de Janeiro (1978-81), University of Warwick (1970-77), Massachusetts Institute of Technology (1967, 1980), University of York (1963-68), and Princeton University (1962-63); adviser to the International Monetary Fund (1972-74); and economic consultant to the UK Treasury (1968-70).
- Author(s)John Williamson
- PublisherThe Peterson Institute for International Economics
- Date of Publication31/07/2005
- SubjectEconomics: Professional & General
- Place of PublicationWashington
- Country of PublicationUnited States
- ImprintInstitute for International Economics,U.S.
- Content Noteillustrations
- Weight666 g
- Width152 mm
- Height229 mm
- Spine15 mm
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