Crises often occur in clusters, affecting multiple countries in the same region.
That's according to Professor Andrew Rose, the Central Bank of Barbados' 5th distinguished visiting fellow.
He made the comments while speaking during a webinar for regional central banks, on the topic "Contagion in Banking and Currency Crises.
Rose is a professor of Economic Analysis and Policy at the University of California, Berkeley whose research includes international trade, exchange rates regimes, and crises.
He said they are often contagious, with one country being hit by a crisis and then "infecting" the others