In defense of free capital markets : the case against a new international financial architecture /
In defence of free capital markets In defence of free capital markets : The case against a new international financial architecture
David F. DeRosa.
- First edition.
- xv, 230 pages : illustrations ; 24 cm
Includes bibliographical references (pages 217-222) and index.
List of Illustrations -- Acknowledgments -- Preface -- Financial Policy and the Cycle of Regulation -- The Analysis of Financial Policy -- The Growth of Antimarket Sentiment -- An Alternative View of Crisis and Regulation -- The Demonization of the Foreign Exchange Market -- Japan's Lost Decade of the 1990s -- The Juggernaut -- On the Reefs -- Beyond Capitalism? -- The Bubble Economy -- A Critique of Japanese Monetary Policy -- Ministerial Diversions -- The Future of Japan's Economy -- Exploding Foreign Exchange Regimes -- Distortions Arising from Fixed Exchange Rates -- The European Exchange Rate Mechanism Crises: 1992 and 1993 -- Foreign Exchange Crises in Emerging-Market Economies -- The Mexican Peso Crisis: 1994-1995 -- The Southeast Asian Currency Crisis of 1997 -- The Consequences of the Strong-Dollar Doctrine -- Thailand Kicks It All Off -- Indonesia Follows -- Malaysia Pulls a Fast One -- Accounting for Contagion -- Singapore Weathers the Storm -- Hong Kong Chooses Crisis -- Panicked Selling of U.S. Equities -- Brazil Squeaks Through -- Korea Learns Finance the Hard Way -- Exploding Hedge Funds -- Russian Default Spawns a New Crisis -- Hong Kong's Fall from Free-Market Grace -- The LTCM Fiasco and Market Turbulence in Autumn 1998 -- Did the Federal Reserve Overreact to LTCM? -- Fast Fixes and Alternative Exchange Rate Regimes -- Peg Hard or Float -- Currency Boards -- Dollarization -- Foreign Exchange Target Zones and the Tobin Tax -- The Case for Freely Floating Exchange Rates -- The Quest for a New Financial Architecture -- Reform Is in the Air -- Statistical Risk Models and the Peso Problem -- Capital Controls and Malaysia's Legacy -- What to Do about the IMF -- Conclusions -- Notes -- References -- Index. Chapter 1. Chapter 2. Chapter 3. Chapter 4. Chapter 5. Chapter 6. Chapter 7. Chapter 8. Chapter 9.