International Financial Crises: Scourge or Blessings in Disguise?

In this article, the authors study the consequences of financial crises in Argentina, Brazil, South Korea, Malaysia, Mexico, Thailand, and Turkey and present an attempt to identify winners and losers during and after the crises. Through empirical analysis, the authors find that financial crises seem to benefit certain segments of international finance capital, and domestic capital, and structural changes imposed on the economy to remedy the situation further the interests and power of capital in general.