TY - BOOK ID - 84540628 TI - Emerging Markets Crisis : An Asset Markets Perspective AU - Krishnamurthy, Arvind. AU - Caballero, Ricardo. PY - 1999 SN - 1462327702 145272802X 1282109448 9786613802330 1451900376 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Accounting KW - Banks and Banking KW - Finance: General KW - Macroeconomics KW - Industries: Financial Services KW - Macroeconomics and Monetary Economics: General KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Public Administration KW - Public Sector Accounting and Audits KW - Price Level KW - Inflation KW - Deflation KW - Portfolio Choice KW - Investment Decisions KW - Finance KW - Financial reporting, financial statements KW - Banking KW - Collateral KW - Financial statements KW - Asset prices KW - Asset liquidity KW - Financial institutions KW - Public financial management (PFM) KW - Prices KW - Asset and liability management KW - Commercial banks KW - Loans KW - Finance, Public KW - Banks and banking KW - Liquidity KW - Economics KW - Mexico UR - https://www.unicat.be/uniCat?func=search&query=sysid:84540628 AB - The entire difference between a mild downturn and a devastating crisis is the occurrence of sharp fire sales of domestic assets and possibly foreign exchange and the ensuing collapse in the balance sheets of both the financial and nonfinancial sector. Why and how do such crises materialize? And why doesn’t the private sector take appropriate precautions to avoid the consequences of crises? In this paper we argue that the combination of weak international financial links and underdeveloped domestic financial markets offers a parsimonious account of these and related phenomena present in emerging markets. ER -