Khan presents a theory of financial crises in the age of globalization from an evolutionary perspective and suggests policies that may be necessary for averting or managing new financial crises. Starting with the Asian financial crises, he identifies new types of financial crises that result from a combination of liberalization, weak domestic institutions for economic governance and a chaotic global market system without global governance institutions. Suggested solutions involve building new institutions for global and domestic governance and domestic and international policy reforms.

HAIDER A. KHAN has published six books and more than fifty articles in professional journals. He worked at the Asian Development Bank during the Asian Financial crisis and later moved to the newly founded Asian Development Bank Institute in Tokyo as a visiting scholar. In December 2002, he was one of the three international experts invited by the UN to deliver papers on the global poverty problem at the executive meeting of UN conference on trade and development in Geneva.