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 77
Pagina 4
... lender of last resort able to put enough money on the table to be sure that it could stop runs on countries . Back in 1995 , Jeffrey Sachs laid out the case for both an inter- national lender of last resort and a sovereign bankruptcy ...
... lender of last resort able to put enough money on the table to be sure that it could stop runs on countries . Back in 1995 , Jeffrey Sachs laid out the case for both an inter- national lender of last resort and a sovereign bankruptcy ...
Pagina 14
... lender of last resort lets a troubled bank pay off its depositors . However , most domestic bank " bailouts " do more than just provide the bank with emergency liquidity from a lender of last resort . They also typically require giving ...
... lender of last resort lets a troubled bank pay off its depositors . However , most domestic bank " bailouts " do more than just provide the bank with emergency liquidity from a lender of last resort . They also typically require giving ...
Pagina 18
... lender of last resort usually handles a bank run : It promises to lend the bank as much money as it needs to honor its existing deposits in full and on time . A partial bailout provides the country with a substantial sum of money but ...
... lender of last resort usually handles a bank run : It promises to lend the bank as much money as it needs to honor its existing deposits in full and on time . A partial bailout provides the country with a substantial sum of money but ...
Pagina 22
... lender of last resort , the risk that an international lender of last resort could trigger moral hazard , and the case for and against - partial bailouts . Chapter 4 looks at the lessons that can be drawn from the actual expe- rience in ...
... lender of last resort , the risk that an international lender of last resort could trigger moral hazard , and the case for and against - partial bailouts . Chapter 4 looks at the lessons that can be drawn from the actual expe- rience in ...
Pagina 60
... lenders of funds to real firms , most Russian firms were self - financed . The devaluation helped them more than 45. Sixty percent of Russia's government debt was in foreign currency or foreign cur- rency - linked ; the debt to GDP ...
... lenders of funds to real firms , most Russian firms were self - financed . The devaluation helped them more than 45. Sixty percent of Russia's government debt was in foreign currency or foreign cur- rency - linked ; the debt to GDP ...
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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
ability able action adjustment allow amount approach Argentina assets avoid bailout balance banking system bankruptcy banks billion bonds borrowing Brazil capital chapter claims clauses commitment contracts controls costs country's create crises crisis currency debt restructuring debtor default deficits deposits difficulties discussed dollar domestic effectively emerging economies example exchange rate existing exposure external debt fall financing firms fiscal foreign funds guarantee hold IMF lending IMF's incentives increase institutions interest investors ISBN issue lead lender lending less limit liquidity litigation loans losses major maturing ment Mexico models moral hazard offer official options Paris Club payments percent priority private creditors problems proposal protection recent reduce regime relative requires reserves risk rollover Russia short-term sovereign debt standstill stop structure Trade Turkey World
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