Contents Foreword by Robert M.Solow vii 1 Financial Crisis:A Hardy Perennial 1 2 Anatomy of a Typical Crisis 24 3 Speculative Manias 38 4 Fueling the Flames:The Expansion of Credit 64 5 The Critical Stage 90 6 Euphoria and Economic Booms 113 7 International Contagion 123 8 Bubble Contagion:Tokyo to Bangkok to New York 142 9 Frauds,Swindles,and the Credit Cycle 165 10 Policy Responses:Letting It Burn Out,and Other Devices 203 11 The Domestic Lender of Last Resort 225 12 The International Lender of Last Resort 243 13 The Lessons of History and the Most Tumultuous Decades Ever 275 Appendix 294 Notes 304 Index 340 FM JWBK120/Kindleberger February 13, 2008 14:53 Char Count= Contents Foreword by Robert M. Solow vii 1 Financial Crisis: A Hardy Perennial 1 2 Anatomy of a Typical Crisis 24 3 Speculative Manias 38 4 Fueling the Flames: The Expansion of Credit 64 5 The Critical Stage 90 6 Euphoria and Economic Booms 113 7 International Contagion 123 8 Bubble Contagion: Tokyo to Bangkok to New York 142 9 Frauds, Swindles, and the Credit Cycle 165 10 Policy Responses: Letting It Burn Out, and Other Devices 203 11 The Domestic Lender of Last Resort 225 12 The International Lender of Last Resort 243 13 The Lessons of History and the Most Tumultuous Decades Ever 275 Appendix 294 Notes 304 Index 340 v