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Financial Instability and the International Debt Problem (Southampton Series in International Economics) - Tapa dura

McKenzie, George; Thomas, Stephen

 
9780333464199: Financial Instability and the International Debt Problem (Southampton Series in International Economics)
Tapa dura
ISBN 10: 0333464192 ISBN 13: 9780333464199
Editorial: Palgrave Macmillan, 1991

Sinopsis

The authors argue clearly and convincingly in this book that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks.

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Reseña del editor

The authors argue clearly and convincingly in this book that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks.

Reseña del editor

The conclusion reached in this book is that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks. Therefore mistakes, when identified, are corrected only with a long lag. In addition to a detailed analysis of this thesis, the book contains an evaluation of recent proposals to harmonize international bank regulations and an extensive discussion of how financial markets are absorbing the huge losses which have emanated from the inability of borrowers to meet their debt service payments.

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Editorial
Palgrave Macmillan
Año de publicación
1991
Idioma
Inglés
ISBN 10 
0333464192
ISBN 13 
9780333464199
Encuadernación
Tapa dura
Número de páginas
224
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