The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a w

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma

This volume provides two recent analyses of government responses to financial crises; they have been developed in the light of the recent East Asian crisis, but

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? Wh

Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent y