This paper reviews the literature on the financial crises of the late 1990s and early this century and their impact on poverty. It focuses on capital account-led crises in middle-income countries. These crises are mainly characterised by sharp domestic currency devaluation, which may, or may not, lead to the collapse of the country's banking system.
Gottschalk, R. Financial Crises in Emerging Markets and their Poverty Impact. A Review of the Literature. (2004) 34 pp.