Loading...
Please wait, while we are loading the content...
Similar Documents
Managing macroeconomic crises
| Content Provider | Library of Congress - Books/Printed Material |
|---|---|
| Author | Wei, Shang-Jin Frankel, Jeffrey A. |
| Spatial Coverage | Developing Countries |
| Temporal Coverage | 2004 |
| Copyright Year | 2004 |
| Abstract | "This study reviews broadly the experience of the last decade on crisis prevention and management. It seeks to draw greater attention to policy decisions that are made during the phase when capital inflows come to a sudden stop. Procrastination - the period of financing a balance of payments deficit rather than adjusting - had serious consequences in some cases. Crises are more frequent and more severe when short-term borrowing and dollar denomination external debt are high, and foreign direct investment (FDI) and reserves are low, in large part because balance sheets are then very sensitive to increases in exchange rates and short-term interest rates. If countries that are faced with a fall in inflows adjusted more promptly, rather than stalling for time by running down reserves or shifting to loans that are shorter-termed and dollar-denominated, they might be able to adjust on more attractive terms"--National Bureau of Economic Research web site. |
| Language | English |
| Publisher | National Bureau of Economic Research |
| Publisher Place | Cambridge, MA |
| Part of Series | Catalog |
| Requires | HTML5 supported browser |
| Access Restriction | Open |
| Subject Keyword | Capital Movements Developing Countries Economic Policy Economic Stabilization |
| Subject Domain (in LCSH) | Developing countries--Economic policy |
| Subject Domain (in LCSH) | Economic stabilization--Developing countries |
| Subject Domain (in LCSH) | Capital movements--Developing countries |
| Subject Domain (in LCC) | HB1 |
| Content Type | Text |
| Resource Type | Book |
