Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging EconomiesInstitute for International Economics, 2004 - 427 pagine Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt. |
Dall'interno del libro
Risultati 1-3 di 41
... current account deficit necessarily either is attracting foreign direct investment ( FDI ) into its economy and net inflows of portfolio investment into its stock market or is borrowing from the rest of the world . Budget deficits ...
... current account deficits . Close ties between banks and firms and expectations that well- connected banks would not be allowed to fail created distorted incentives , with too much borrowing from abroad and too much investment in mar ...
... current account deficit . Rather than going from a current account deficit to a current account balance or surplus , Russia went from an overall balanced current account - with substantial inflows from external investors offsetting ...
Sommario
Introduction | 1 |
Appendix A Tables 379 | 8 |
New Nature of EmergingMarket Crises | 25 |
Copyright | |
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Bailouts Or Bail-Ins?: Responding to Financial Crises in Emerging Economies Nouriel Roubini,Brad Setser Anteprima limitata - 2004 |
Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging Economies Nouriel Roubini,Brad Setser Visualizzazione estratti - 2004 |