Other people's money : debt denomination and financial instability in emerging market economies /

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Annotation Recent crises in emerging markets have been heavily driven by balance-sheet or net-worth effects. Episodes in countries as far-flung as Indonesia and Argentina have shown that exchange rate adjustments that would normally help to restore balance can be destabilizing, even catastrophic, fo...

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Bibliographic Details
Call Number:Libro Electrónico
Other Authors: Eichengreen, Barry J., Hausmann, Ricardo
Format: Electronic eBook
Language:Inglés
Published: Chicago : University of Chicago Press, 2005.
Subjects:
Capital movements > Developing countries.
Debts, External > Developing countries.
Finance > Developing countries.
Monetary policy > Developing countries.
Mouvements de capitaux > Pays en voie de développement.
Dettes extérieures > Pays en voie de développement.
Finances > Pays en voie de développement.
Politique monétaire > Pays en voie de développement.
BUSINESS & ECONOMICS > Finance.
Capital movements
Debts, External
Finance
Monetary policy
Kapitaalverkeer.
Developing countries
International banking
Investments & investing
HG 3810-4000 Foreign exchange
Online Access:Texto completo
Table of Contents:
  • The pain of original sin
  • Must original sin cause macroeconomic damnation?
  • A fiscal perspective on currency crises and "original sin"
  • Original sin, balance-sheet crises, and the roles of international lending
  • How original sin was overcome : the evolution of external debt denominated in domestic currencies in the United States and the British dominions, 1800-2000
  • Old sins : exchange clauses and European foreign lending in the nineteenth century
  • Why do emerging economies borrow in foreign currency?
  • Why do countries borrow the way they borrow?
  • The mystery of original sin
  • Original sin : the road to redemption.

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