Bailouts Or Bail-Ins?: Responding to Financial Crises in Emerging EconomiesPeterson Institute, 30 apr 2004 - 348 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 1-5 di 60
Pagina 2
... trade deficit and reduce the amount it borrows from the rest of the world . Countries with profligate governments running large budget deficits need to put their fiscal accounts in order . At the same time , agree- ment on a set of ...
... trade deficit and reduce the amount it borrows from the rest of the world . Countries with profligate governments running large budget deficits need to put their fiscal accounts in order . At the same time , agree- ment on a set of ...
Pagina 18
... trade them for foreign assets and foreign currency . This eliminates the need to raise external financing but also severely disrupts economic activity . Much of the academic debate has focused on the relative merits of a full bailout ...
... trade them for foreign assets and foreign currency . This eliminates the need to raise external financing but also severely disrupts economic activity . Much of the academic debate has focused on the relative merits of a full bailout ...
Pagina 21
... trade their rubles , pesos , or baht for dollars en masse . A key argument of this book , in a nutshell , is that the signal of international support and money from an IMF loan can do far more to limit these risks than outright legal ...
... trade their rubles , pesos , or baht for dollars en masse . A key argument of this book , in a nutshell , is that the signal of international support and money from an IMF loan can do far more to limit these risks than outright legal ...
Pagina 32
... trade , interest rate changes in the world's major financial centers , and sudden changes in the willingness of domestic and in- ternational investors to invest in risky financial assets - that tend to hit emerging economies more ...
... trade , interest rate changes in the world's major financial centers , and sudden changes in the willingness of domestic and in- ternational investors to invest in risky financial assets - that tend to hit emerging economies more ...
Pagina 35
... trade - off between defending the peg by raising interest rates and floating . For example , in the 1992 ERM crisis , some European governments chose to devalue when the costs of using high interest rates to defend an overvalued ...
... trade - off between defending the peg by raising interest rates and floating . For example , in the 1992 ERM crisis , some European governments chose to devalue when the costs of using high interest rates to defend an overvalued ...
Altre edizioni - Visualizza tutto
Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging Economies Nouriel Roubini,Brad Setser Visualizzazione estratti - 2004 |
Bailouts Or Bail-ins?: Responding to Financial Crises in Emerging Economies Nouriel Roubini,Brad Setser Visualizzazione estratti - 2004 |
Parole e frasi comuni
adjustment Argentina assets avoid bail-in bailout bank run banking system bankruptcy regime bilateral billion bond's bondholders borrowing Brady bonds Brazil capital claims collective action clauses commitment country's crisis country crisis resolution cross-border current account deficit debt restructuring debtor default depositors dollar domestic banks domestic debt Ecuador emerging economies emerging markets emerging-market exchange rate exposure external creditors external debt firms fiscal foreign currency foreign-currency Fred Bergsten Global guarantee holdouts IMF lending IMF loan IMF program IMF's incentives Indonesia interbank interest rates international bonds International Monetary Fund investors ISBN Korea lender of last liquidity litigation long-term maturing ment Mexico models moral hazard official financing official sector options Paris Club payments precrisis priority private creditors problems proposal reduce repay reserves restruc restructuring process restructuring terms risk rollover Russia SDRM short-term debt sovereign bonds sovereign debt sovereign debt restructuring standstill triggering Turkey Uruguay York-law
Brani popolari
Pagina 1 - The G-7 countries are the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada.
Pagina 190 - No one category of private creditors should be regarded as inherently privileged relative to others in a similar position. When both are material, claims of bondholders should not be viewed as