Adjustments after Speculative Attacks in Latin America and Asia: A Tale of Two Regions?

from the Table of Contents: Introduction; Channels of Transmission of a Speculative Attack onto the Real Economy; The Aftermath of the Latin American and Asian Crises: The Crises Were Deeper and the Recoveries Slower in Asia; Why Were the Crises Deeper and the Recoveries Slower in Asia?; Conclusions and Policy Implications; Appendix A. Speculative Attacks and Macropolicy Dilemmas: An Illustration Using a Textbook Keynesian Model with Exchange-Rate Expectations; Appendix B: A Suggestive Rank-Correlation Analysis;