Global Markets and Financial Crises in Asia:
Towards a Theory for the 21st Century

Haider A. Khan
Palgrave Macmillan, New York, 2004. ISBN: 0-333-76076-X

This book presents a new theory of financial crises in the age of globalisation from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, the author identifies new types of financial crises that result from a combination of liberalisation, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions (a regional financial architecture) or global and domestic governance and domestic and international policy reforms.