Review by Choice Review
In the aftermath of the global financial crisis of 2008, there has been a plethora of publications on the causes and consequences of financial crises. This volume is a compendium of 19 articles--primarily by researchers with the International Monetary Fund, but also many other leading experts in the field--that provides a comprehensive analysis of all aspects of financial crises. The book is divided into sections that include descriptions of alternative types of crises, crisis prevention and management, and short- and medium-term effects of crises. Additional sections provide a thorough description and analysis of policy measures that are potentially effective in preventing crises resulting from alternative causes, including credit booms and busts, real estate bubbles, and banking crises. The final set of articles includes an extensive discussion of policy measures that can be used to mitigate the impact of financial crises; this is an exceptionally well-developed set of essays focusing on such issues as bank restructuring, household debt restructuring, and lessons learned from the recent past on restructuring sovereign debt. All in all, this timely publication is an excellent reference on the subject. --Dan C. Messerschmidt, Lynchburg College
Copyright American Library Association, used with permission.
Review by Choice Review