These are the Latin American debt crisis of the 1980s, the Nordic Banking Crisis of the early 1990s, the Asian currency crisis of the late 1990s, and the latest US financial crisis in 2007. I chose them because they are most relevant for understanding the evolution of the global economy, although the choice may be somewhat arbitrary.
I leave out the crisis which took place in Japan in the early 1990s and the long-term stagnation afterwards not only because I would not presume to venture in an area where your expertise is preeminent, but also it does not have great relevance to today’s topic. As we review each crisis, we will find common characteristics as well as its own particular features.