"In 1997, the "Asian Economic Miracle," thirty years of rapid growth and low inflation, ended abruptly with runs on Southeast Asian currencies and a massive flight of capital, precipitating deep economic recessions. Meanwhile, the countries of Southeast Europe had been struggling to reconstruct market economies out of the shreds left by socialist economies.

Both regions had been urged by international organizations to adopt a package of policies, often called the Washington Consensus, of deregulation, privatization, trade liberalization, and free-flowing capital. Did the crisis in Southeast Asia, and related crises in Russia and Latin America, call into question the Washington Consensus?"--BOOK JACKET.

"To address that issue and study creation of sustained growth, the Woodrow Wilson Center convened a conference to examine these two regions. Participants included officials from international financial institutions, national banks from the regions and the United States, as well as economists, historians, and researchers."--BOOK JACKET.