Global Moral Hazard Capital Account Liberalization And The Overlending Syndrome
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Global Moral Hazard Capital Account Liberalization And The Overlending Syndrome
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Author : Mr.Eduardo Levy Yeyati
language : en
Publisher: International Monetary Fund
Release Date : 1999-07-01
Global Moral Hazard Capital Account Liberalization And The Overlending Syndrome written by Mr.Eduardo Levy Yeyati and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-07-01 with Business & Economics categories.
The removal of government guarantees in borrowing countries does not eliminate the moral hazard problem posed by the existence of deposit guarantees in lender countries. The paper shows that, after restrictions on international capital flows are lifted, banks in low-risk developed countries benefit from lending funds captured in home markets at low deposit rates to high-risk/high-yield projects in emerging economies, even though these projects command lower expected returns. This, in turn, has a negative impact on bank profitability in the borrowing country, even when foreign funds are intermediated through domestic banks. The results are consistent with the surge in international bank lending flows that led to recent banking crises in Asia.
Global Moral Hazard Capital Account Liberalization And The Overlending Syndrome
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Author : Eduardo Levy Levy-Yeyati
language : en
Publisher:
Release Date : 2006
Global Moral Hazard Capital Account Liberalization And The Overlending Syndrome written by Eduardo Levy Levy-Yeyati and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
The removal of government guarantees in borrowing countries does not eliminate the moral hazard problem posed by the existence of deposit guarantees in lender countries. The paper shows that, after restrictions on international capital flows are lifted, banks in low-risk developed countries benefit from lending funds captured in home markets at low deposit rates to high-risk/high-yield projects in emerging economies, even though these projects command lower expected returns. This, in turn, has a negative impact on bank profitability in the borrowing country, even when foreign funds are intermediated through domestic banks. The results are consistent with the surge in international bank lending flows that led to recent banking crises in Asia.
Reforming The International Monetary And Financial System
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Author : Mr.Alexander K. Swoboda
language : en
Publisher: International Monetary Fund
Release Date : 2000-12-18
Reforming The International Monetary And Financial System written by Mr.Alexander K. Swoboda and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-12-18 with Business & Economics categories.
This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed. Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including exchange rate volatility and misalignments; unstable capital flows to emerging market economies; abrupt capital flow reversals; and private sector involvement in crisis resolution. The IMF’s role in crisis prevention and resolution is also examined.
Global Political Economy And The Wealth Of Nations
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Author : Phillip Anthony O'Hara
language : en
Publisher: Psychology Press
Release Date : 2004
Global Political Economy And The Wealth Of Nations written by Phillip Anthony O'Hara and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Capitalism categories.
Documents the major processes, performance, institutions, problems and policies associated with global political economy. This book present an analysis of the changing distribution and production of wealth throughout the world, the global technological revolution, and a special study of Asia and Eastern Europe in the world system.
Capital Account Liberalization
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Author : V. Subbulakshmi
language : en
Publisher:
Release Date : 2004
Capital Account Liberalization written by V. Subbulakshmi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Capital movements categories.
After the Asian economic crisis, Asian countries saw the highs and lows of the costs and benefits of liberalization. When capital flows into a country it increases the invisible resources and catalyzes growth. But when a capital outflow takes place in une
Exchange Rates Under The East Asian Dollar Standard
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Author : Ronald I. McKinnon
language : en
Publisher: MIT Press
Release Date : 2005
Exchange Rates Under The East Asian Dollar Standard written by Ronald I. McKinnon and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
The policy dilemmas inherent in using the US dollar as the key currency for stabilizing exchange rates in East Asia.
Financial Crises Explanations Types And Implications
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
Financial Crises Explanations Types And Implications written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-30 with Business & Economics categories.
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Enemy Of None But A Common Friend Of All An International Perspectiveon The Lender Of Last Resort Function
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Author : Curzio Giannini
language : en
Publisher: International Monetary Fund
Release Date : 1999-01-01
Enemy Of None But A Common Friend Of All An International Perspectiveon The Lender Of Last Resort Function written by Curzio Giannini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
The paper explores whether and how national lender-of-last-resort practices can be adapted internationally. Nationally, the effectiveness of such practices is based on a blend of resource availability, technical discretion as to the conditions attached, ex ante supervision, and powers of enforcement. Some features of the international environment, however, make it difficult to replicate this structure, which may explain why recent large-scale rescue packages have worked less than satisfactorily. Private contingent credit facilities and IMF lending into arrears in the context of internationally approved, temporary moratoria on foreign debt may nonetheless offer some scope for effective, although limited in aims and resources, international liquidity support, but this would require amending the IMF’s Articles of Agreement.
Financial Market Trends
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Author :
language : en
Publisher:
Release Date : 2001
Financial Market Trends written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Electronic journals categories.
How To Sequence Capital Market Liberalization
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Author : Inseok Shin
language : en
Publisher:
Release Date : 1999
How To Sequence Capital Market Liberalization written by Inseok Shin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Capital market categories.