Chapter 4 Regional financial arrangement

Abstract

As discussed in the preceding chapter, the impact of a financial crisis can be very severe, creating conflicts of various types. We have also learned that formulating an appropriate policy response to a crisis is not easy, involving many trade-offs and complex chains of reaction, especially when numerous institutions get involved in business deals that have only a few same underlying transactions. The longer a crisis lasts, the more difficult to find policies that will work effectively. The experience of Japan with her long recession since early 1990s is a notable example. No one knows exactly how long the 2007/2008 crisis will last.

Citation

Azis, I.J. (2009), "Chapter 4 Regional financial arrangement", Azis, I.J. (Ed.) Crisis, Complexity and Conflict (Contributions to Conflict Management, Peace Economics and Development, Vol. 9), Emerald Group Publishing Limited, Leeds, pp. 55-97. https://doi.org/10.1108/S1572-8323(2009)0000009007