 Using a sample of emerging market countries with large capital inflows from Latin America, Asia and Europe, they compare the severity of the sudden stop episodes associated with currency crises and banking crises.The severity of sudden stop episodes in emerging market economies are compared using indicators such as the real depreciation of the currency and indicators of currency and banking crises.Results suggest that currency and banking crises in Asia in 1995-1997 were more severe than the sharpest crises in Latin America, in terms of banking bailout costs and the size of capital account reversal.