The third interpretation is based on the idea that the crisis is mainly the result of a selffulfilling panic of investors. This interpretation is described in detail in Radelet and Sachs (1998a and 1998b). This story goes as follows.
The third interpretation is based on the idea that the crisis is mainly the result of a selffulfillingpanic of investors. This interpretation is described in detail in Radelet and Sachs (1998aand 1998b). This story goes as follows.