ECON 518T(S) Avoiding Financial Crises
This course will focus on the causes of the most common financial crises that afflict developing and transition countries, with a view to understanding how best to avoid them altogether - or at least to minimize their destructive economic and political impact. The episodes to be studied include monetary (inflation) crises, banking crises, currency (exchange rate) crises, and fiscal (debt) crises. The readings will cover mostly the empirical and policy-oriented literature, including specific case studies of crisis development, avoidance and resolution, drawing from experience in Asia, Emerging Europe and Latin America. Format: tutorial meetings in groups of 2. Requirement: one paper every other week, for a total of 5 papers. Prerequisites: Economics 509. Enrollment limit: 10 (expected: 10). Undergraduate enrollment limited and only accepted with instructor's permission.