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 88
... official sector lacks an informational advan- tage.41 On the other hand , the argument that an informational advantage is needed for there to be a case for bailout can itself be questioned : Runs on illiquid but solvent countries may ...
... official lending , creditors holding longer - term claims only un- ambiguously gain if the bailout works . Argentina's long - term bondhold- ers are in the process of discovering that official lending that backs a failed program can ...
... official guarantee for private crisis lending , by otherwise extending the official sector's preferred status to private lending , or by making it possible for private creditors to obtain collateral to back their crisis lending . Gerald ...
Sommario
Introduction | 1 |
Agenda for Reform | 7 |
Appendix A Tables 379 | 8 |
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 |