02066cas a2200253 a 4500 AALejournalIMF013341 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475561005 1018-5941 BD-DhAAL BD-DhAAL Claessens, Stijn. Financial Crises Explanations, Types, and Implications / Stijn Claessens, Ayhan Kose. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (66 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 This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises-currency crises, sudden stops, debt crises, and banking crises-and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions. Mode of access: Internet Kose, Ayhan. IMF Working Papers; Working Paper ; No. 2013/028 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/028/001.2013.issue-028-en.xml IMF e-Library