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| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidad Nacional Autónoma de México
2004
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| Online Access: | https://www.redalyc.org/articulo.oa?id=60124801 |
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Table of Contents:
- Reflections on Currency Crises Korkut Erturk Economía y Finanzas Currency crises, which have increasingly become a common occurrence aroundthe world in the 1990s, can be analyzed at three different levels. Looking at itat the national level, these crises can be seen to signify the pitfalls of betting onfinancial liberalization to attract foreign capital on a massive scale, where financialimbalances caused by excessive debt, in this or that form, lead to an implosion.Looked at the level of the international monetary system, many of these crisesare caused by a new breed of speculative attacks that have beleaguered globalfinancial markets in recent times where expectations tend to become self-fulfillingprophecies. Finally, these crises can also be looked at the level of the structure ofinternational trade and the world economy, where many developing countries today face, arguably, the threat of immiserizing growth reflecting the fallacy ofcomposition problem inherent in a generalized strategy of export-led growth. 2004 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60124801 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.248 Vol.LXIII