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Why Crisis Is Common By Rana Foroohar.(Business; Finance)(Brief article)
As world leaders try to restructure the global financial system, it's worth reflecting on how we got to this point. A new database created by economists at the IMF tracks financial crises over the last 30 years, and it may come as a surprise that the world has had 124 of them during that time. The good news is that most were isolated in only one of three sectors--banking, currency or sovereign debt--and many involved the usual emerging-market basket cases, like Argentina and Turkey. The bad ...
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