When financial institutions collapse, new ones take their place, shaping markets for generations to come. This book explains why financial crises occur, why their effects last so long, and what political and economic conditions can help countries both rich and poor survive, and even prosper, in the aftermath. Although there is no panacea for such crises, the authors argue that it is possible to strengthen existing financial institutions, encourage economic growth, and limit the harm that future catastrophes can do.