01712cas a2200253 a 4500 AALejournalIMF001032 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855098 1018-5941 BD-DhAAL BD-DhAAL Krishnamurthy, Arvind. Emerging Markets Crisis : An Asset Markets Perspective / Arvind Krishnamurthy, Ricardo Caballero. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (53 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Caballero, Ricardo. IMF Working Papers; Working Paper ; No. 1999/129 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/129/001.1999.issue-129-en.xml IMF e-Library