Financial crises in Asia and Latin America: Then and now
分析拉丁美洲、亚洲、欧洲和中东过去金融危机的共同特征，并比较近期亚洲和拉丁美洲危机的严重程度，发现金融自由化后亚洲的“温和”危机已成为历史。
In this paper, we analyze the extent to which past financial crises share common characteristics in Latin America, Asia, Europe, and the Middle East. We examine the recent crises in Asia and in Latin America, in particular their severity, to assess whether the considerable historical differences that we have documented for the earlier sample have eroded. We conclude that in a deregulated world, the "well-behaved" Asian financia1 crises are a relic of the past.