*  *  *  Economic crises in emerging-market economies were a prominent feature of the economic landscape during the second half of the 1990s. Though such crises were by no means a new phenomenon, what brought special attention to the recent episodes was the perception of a heightened possibility of contagion--the spread outward of pressures from one crisis country to other countries.
However, as for any voluntary regulation to work as intended, it is incumbent upon all the players to adhere to the Code both, in letter and spirit.