The authors—leading economists and political scientists—examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical perspective. National governments have used a variety of strategies to deal with capital-account instability. The authors evaluate those responses, prescribe new alternatives, and consider whether the new circumstances require novel international policies.
Miles Kahler is the Rohr Professor of Pacific International Relations at the University of California, San Diego. He is the author of several books, including Governance in a Global Economy: Political Authority in Transition, and editor of The Politics of International Debt, also from Cornell.