Economists and policymakers are still trying to understand the lessons of recent financial crises in emerging markets. In this volume, academics, public officials and economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion, the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector, capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption and large players.