Title

Financial Crashes in the Globalization Era

Document Type

Article

Publication Date

Fall 2001

Abstract

The financial crashes of the 1990s have been blamed on financial liberalization, political crises, and changes in U.S. interest rates and the value of the dollar. In reality these crashes, unlike previous ones, were rooted in a clash between a global investment community that favored private property and free markets, and governments that did not.