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Cited by 686

The DOI matches its Crossref record; 38 of the 38 references it cites were found in a registry or an index.

Understanding Financial Crises: A Developing Country Perspective

Open access
Mishkin, Frederic·1996·National Bureau of Economic Research
DOI 10.3386/w5600
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Abstract

This paper explains the puzzle of how a developing economy can shift dramatically from a path of reasonable growth before a financial crisis, as was the case in Mexico in 1994, to a sharp decline in economic activity after a crisis occurs.It does so by outlining an asymmetric information framework for analyzing banking and financial crises in developing countries.The asymmetric information framework shows why the banking sector is so important to the economy, particularly in developing countries and provides a rationale for bank regulation and supervision.This asymmetric information framework is then used to understand why banking and financial crises occur and why they can have such a devastating effect on the economy, particularly in developing countries.The paper concludes by discussing policy implications for developing countries.An important theme is that an appropriate institutional structure is critical to preventing banking and financial crises in developing countries and to reducing their undesirable effects if they should occur.

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Metadata

Authors
Mishkin, F.
Venue
National Bureau of Economic Research
Publisher
National Bureau of Economic Research
Published
1996-05
DOI
10.3386/w5600
OpenAlex
W2132809519
Cited by
686
References
38
Type
report
Language
en
Open access
green

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CoChat. (2026). Citation check: Understanding Financial Crises: A Developing Country Perspective. https://app.cochat.ai/papers/10.3386/w5600
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Mishkin, F. (1996). Understanding Financial Crises: A Developing Country Perspective. National Bureau of Economic Research. https://doi.org/10.3386/w5600

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.