Journal of Economic Literature
Book Reviews
2026-08-28
Edwin M. Truman of Peterson Institute for International Economics reviews “Financial Crises: Lessons from the Past, Preparation for the Future” by Gerard Caprio, James A. Hanson, Robert E. Litan,. The EconLit Abstract of the reviewed work begins “Six papers and one panel discussion, based on the sixth annual financial markets and development conference held in April 2005 in Washington, D.C., ask what has been learned from crises in key parts of the development world, and how exposed are other countries to these and other kinds of financial and economic crises? Papers discuss postcrisis challenges and risks in East Asia and Latin America (James A. Hanson); an overview of banking system crises and recovery in the transition economies of Europe and Central Asia (Fernando Montes-Negret and Thomas Muller); whether sovereign debt in developing countries with market access is a help or hindrance (Indermit Gill and Brian Pinto); what the next emerging-market financial crisis might look like (Morris Goldstein); views of financial risks ahead from the private sector; rebuilding banking systems (Gerard Caprio and Patrick Honohan); and old-age income support in the twenty-first century (Robert Holzmann). Caprio is Director of the Operations Policy Department, and Hanson is Senior Adviser to the Financial Sector Operations and Policy Department, at the World Bank. Litan is Senior Fellow in Economic Studies at the Brookings Institution. Index.”