A brief analysis on causes of financial crises in the emerging markets

During the last two decades years, the emerging markets are rapidly developing and have made an economic miracle. But since 1990s', the emerging markets frequently have suffered from the financial crises: the Mexico crisis(1994),the southeast Asian crisis(1997),the Russia crisis(1998),the Argentina crisis(2001).Those crises reflect the fragility of the emerging markets following the rapid development of the financial industry. This article provides detailed analysis of the causes and the occurring mechanism of the financial crises arising from the emerging markets.