Mishkin 2006 The Next Great Globalization

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Mishkin, Frederic S. 2006. The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich. Princeton, NJ, Princeton University Press. 310 pp.

Mishkin emphasizes the importance of banks having lots of capital and healthy balance sheets to protect national financial systems from trouble when there is some kind of crisis. Also highlights the disasters that can happen when large fractions of a nation's debts are denominated in a foreign currency, because these debts can grow suddenly at the time of a currency crisis.

Review of this book by Mary Faluszczak and Peter Meyer: .

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