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| | Sample Chapter for Desai, P.: Financial Crisis, Contagion, and Containment: From Asia to Argentina. |
 | | The 1997-99 contagion (analyzed in chapter 10), spreading from Bangkok to Brazil, was financial in its transmission mechanism, unlike the trade-linked contagion of the earlier decades. |
 | | Such a financially transmitted global contagion did not transpire from the Argentine and Turkish crises of 2000-01 because quality-conscious, common lenders had kept away from investing in emerging markets except in China and Mexico, and had expected and adjusted to the Argentine debt default. |
 | | Having failed to plug capital outflows and stabilize their currencies, policy makers in the financially troubled economies, who turned to the IMF with a view to be 'rescued' or 'bailed out' from a desperate predicament, could not expect to 'own' the policy prescriptions. |
| www.pupress.princeton.edu /chapters/i7515.html (4508 words) |
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