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. |
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... issue is obviously one of quantitative degree rather than absolutes . Two empirical issues exist in assessing the case for a large official provider of international liquidity : Does IMF finance include an implicit / explicit subsidy ...
... issue . Exchange controls can in- clude a " surrender " requirement that forces private firms with export revenues to sell the foreign exchange they earn to the government , but once such controls are lifted , private firms are under no ...
... issues to assess the impact of clauses on spreads . They found to their surprise that a few bonds issued prior to Mexico's seminal bond issue contained collective action clauses , apparently because these particular bond con- tracts had ...
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 |