Review by Choice Review
Occasionally someone writes a classic--a piece that is constantly referred to as the source--and Lamfalussy has done just that. Long with the Bank for International Settlement, then the driving force behind the formation of the European Central Bank, and past president of the European Monetary Institute, he is now affiliated with the Institute of European Studies, Catholic Univ. of Louvain, Belgium. In this slim, elegant, clearly written, and closely reasoned work of just four chapters Lamfalussy provides a thoughtful review of the four major financial crises that have struck the developing world since the early 1980s: Latin America, 1982-83; Mexico, 1994-95; East Asia, 1997-98; and Russia since 1998. There is a detailed review of each, followed by a chapter comparing similarities and detailing specificities. The third chapter asks and answers the simple question "Does financial globalization aggravate or alleviate market problems?" The final chapter deals with crises prevention. Modest bibliography and good index. Suitable for upper-division undergraduate students and above, and an essential addition to any collection on international finance. D. E. Bond; University of British Columbia
Copyright American Library Association, used with permission.
Review by Choice Review
