Banking crises occur in both industrial and developing countries, but in Latin America they last longer, affect a larger segment of the banking industry and cost the public more. In Banking Crises in Latin America, distinguished policymakers, academicians and bankers examine the main causes of such crises, how governments can manage them more effectively, and how they can be prevented.
The six sections of the book focus on the salient features of Latin American banking systems, the macroeconomic causes of banking crises, the microeconomic factors leading to bank difficulties, and the particular constraints that make the management of banking crises more complicated in Latin America than in industrial countries. Policy recommendations at both the macro- and microeconomic level aim to improve the resilience of banking systems to unanticipated shocks. The last section of the book turns the focus to experiences of individual countries.
Contributors include Eduardo Aninat, Guillermo Calvo, Michel Camdessus, Sebastian Edwards, Enrique Iglesias, Lawrence Summers and Paul Volcker.
About the Author
Ricardo Hausmann is Chief Economist at the Inter-American Development Bank, and Liliana Rojas-Suárez is Principal Advisor in the Office of the Chief Economist. They are co-editors of Volatile Capital Flows: Taming Their Impact on Latin America, also published by the Inter-American Devleopment Bank and available from Johns Hopkins.