Lessons From The Crisis In Argentina
DOWNLOAD
Download Lessons From The Crisis In Argentina PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Lessons From The Crisis In Argentina book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Lessons From The Crisis In Argentina
DOWNLOAD
Author : Ms.Christina Daseking
language : en
Publisher: International Monetary Fund
Release Date : 2005-02-10
Lessons From The Crisis In Argentina written by Ms.Christina Daseking 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 2005-02-10 with Business & Economics categories.
In 2001- 02, Argentina experienced one of the worst economic crises in its history. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and economy into a tailspin. Although the economy has since recovered from the worst, the crisis has imposed hardships on the people of Argentina, and the road back to sustained growth and stability is long. The crisis was all the more troubling in light of the fact that Argentina was widely considered a model reformer and was engaged in a succession of IMF-supported programs through much of the 1990s. This Occasional Paper examines the origins of the crisis and its evolution up to early 2002 and draws general policy lessons, both for countries’ efforts to prevent crises and for the IMF’s surveillance and use of its financial resources.
The Crisis That Was Not Prevented
DOWNLOAD
Author : Jan Joost Teunissen
language : en
Publisher:
Release Date : 2003
The Crisis That Was Not Prevented written by Jan Joost Teunissen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Argentina categories.
The Anatomy Of A Multiple Crisis
DOWNLOAD
Author : Guillermo Perry
language : en
Publisher: World Bank Publications
Release Date : 2003
The Anatomy Of A Multiple Crisis written by Guillermo Perry and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Argentina categories.
The Argentine crisis has been variously blamed on fiscal imbalances, real overvaluation, and self-fulfilling investor pessimism triggering a capital flow reversal. The authors provide an encompassing assessment of the role of these and other ingredients in the recent macroeconomic collapse. They show that in the final years of convertibility, Argentina was not hit harder than other emerging markets in Latin America and elsewhere by global terms-of-trade and financial disturbances. So the crisis reflects primarily the high vulnerability to disturbances built into Argentina's policy framework. Three key sources of vulnerability are examined: the hard peg adopted against optimal currency area considerations in a context of wage and price inflexibility; the fragile fiscal position resulting from an expansionary stance in the boom; and the pervasive mismatches in the portfolios of banks' borrowers. While there were important vulnerabilities in each of these areas, neither of them was higher than those affecting other countries in the region, and thus there is not one obvious suspect. But the three reinforced each other in such a perverse way that taken jointly they led to a much larger vulnerability to adverse external shocks than in any other country in the region. Underlying these vulnerabilities was a deep structural problem of the Argentine economy that led to harsh policy dilemmas before and after the crisis erupted. On the one hand, the Argentine trade structure made a peg to the dollar highly inconvenient from the point of view of the real economy. On the other hand, the strong preference of Argentinians for the dollar as a store of value-after the hyperinflation and confiscation experiences of the 1980s-had led to a highly dollarized economy in which a hard peg or even full dollarization seemed reasonable alternatives from a financial point of view.
Managing Financial Crises
DOWNLOAD
Author : Mr.Charles Collyns
language : en
Publisher: International Monetary Fund
Release Date : 2003-04-10
Managing Financial Crises written by Mr.Charles Collyns 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 2003-04-10 with Business & Economics categories.
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that there is no quick or easy fix in the face of a wide-ranging crisis involving both acute external financing pressures and rapidly changing asset prices that undermine financial stability and household and corporate balance sheets. In the end, effective solutions depend on developing a comprehensive strategy combining the full range of fiscal, monetary, financial system, and debt policy instruments. Recent experience with crises has had important implications for the IMF’s work in assessing crisis vulnerabilities. IMF surveillance work has been strengthened and a more objective framework has been developed for assessing debt sustainability, and this approach continues to be refined.
Financial Crises
DOWNLOAD
Author : Gerard Caprio
language : en
Publisher: Rowman & Littlefield
Release Date : 2005-12-06
Financial Crises written by Gerard Caprio and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-06 with Business & Economics categories.
A Brookings Institution Press and World Bank Group publication Throughout the 1990s, numerous financial crises rocked the world financial sector. The Asian bubble burst, for example; Argentina and Brazil suffered currency crises; and the post-Soviet economy bottomed out in Russia. In Financial Crises, a distinguished group of economists and policy analysts examine and draw lessons from attempts to recover from past crises. They also consider some potential hazards facing the world economy in the 21st century and discuss ways to avoid them and minimize the severity of any future downturn. This important new volume emerges from the seventh annual conference on emerging markets finance, cosponsored and organized by the World Bank and the Brookings Institution. In the book, noted experts address the following questions: How effective were post-crisis policies in Latin America, Eastern Europe, and East and Central Asia? Where do international financial markets stand ten years after the worldwide debt crisis? How can the provision of financial services resume vigorously, yet safely? What are the viable policy options for reducing systemic financial vulnerability? What will the next emerging-market financial crisis look like? Will lessons learned from past experiences help to avoid future disasters? How can nations reform their pension systems to deal with retirement challenges in the 21st century?
The Aftermath Of The Crisis
DOWNLOAD
Author : Ernesto Talvi
language : en
Publisher: Inter-American Development Bank
Release Date : 2010-03-22
The Aftermath Of The Crisis written by Ernesto Talvi and has been published by Inter-American Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-22 with Business & Economics categories.
In the aftermath of the direst global crisis in recent times, Latin America and the Caribbean have shown remarkable resilience. The aim of this report is threefold: first, to understand the sources of this resilience, identifying the role played by unprecedented international financial support on the one hand, and the strength of domestic macroeconomic fundamentals on the other; second, to highlight the policy lessons that emerge from this analysis both for the region and the international financial community; and finally, to identify critical macroeconomic policy challenges for the region.
Banking Crises In Latin America In The 1990 S
DOWNLOAD
Author : Ms.Alicia García-Herrero
language : en
Publisher: International Monetary Fund
Release Date : 1997-10-01
Banking Crises In Latin America In The 1990 S written by Ms.Alicia García-Herrero 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 1997-10-01 with Business & Economics categories.
Recent banking crises in Argentina, Paraguay, and Venezuela suggest that the macroeconomic impact is influenced by the causes of the crisis, the exchange rate regime, the degree of dollarization, and the structure of the banking system. Crises stemming from both macroeconomic and bank-specific causes had the largest macroeconomic impact. Countries with high dollarization and a large share of foreign and government-owned banks maintained a more stable deposit base, at least temporarily, by shifting to dollar-denominated deposits and foreign and government-owned banks. Countries that responded with a rapid, consistent, and comprehensive policy response reduced the negative macroeconomic consequences of their crises.
The Anatomy Of A Multiple Crisis
DOWNLOAD
Author : Guillermo E. Perry
language : en
Publisher:
Release Date : 2016
The Anatomy Of A Multiple Crisis written by Guillermo E. Perry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The Argentine crisis has been variously blamed on fiscal imbalances, real overvaluation, and self-fulfilling investor pessimism triggering a capital flow reversal. Perry and Serven provide an encompassing assessment of the role of these and other ingredients in the recent macroeconomic collapse. They show that in the final years of convertibility, Argentina was not hit harder than other emerging markets in Latin America and elsewhere by global terms-of-trade and financial disturbances. So the crisis reflects primarily the high vulnerability to disturbances built into Argentina's policy framework. Three key sources of vulnerability are examined: the hard peg adopted against optimal currency area considerations in a context of wage and price inflexibility; the fragile fiscal position resulting from an expansionary stance in the boom; and the pervasive mismatches in the portfolios of banks' borrowers. While there were important vulnerabilities in each of these areas, neither of them was higher than those affecting other countries in the region, and thus there is not one obvious suspect. But the three reinforced each other in such a perverse way that taken jointly they led to a much larger vulnerability to adverse external shocks than in any other country in the region. Underlying these vulnerabilities was a deep structural problem of the Argentine economy that led to harsh policy dilemmas before and after the crisis erupted. On the one hand, the Argentine trade structure made a peg to the dollar highly inconvenient from the point of view of the real economy. On the other hand, the strong preference of Argentinians for the dollar as a store of value - after the hyperinflation and confiscation experiences of the 1980s - had led to a highly dollarized economy in which a hard peg or even full dollarization seemed reasonable alternatives from a financial point of view.This paper - a product of the Office of the Chief Economist, Latin America and the Caribbean Region - is part of a larger effort in the region to understand the causes of macroeconomic volatility.
Internal Versus External Convertibility And Developing Country Financial Crises
DOWNLOAD
Author : Gerardo Della Paolera
language : en
Publisher:
Release Date : 1999
Internal Versus External Convertibility And Developing Country Financial Crises written by Gerardo Della Paolera and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Argentina categories.
The Imf And Argentina 1991 2001
DOWNLOAD
Author : Mrs.Isabelle Mateos y Lago
language : en
Publisher: International Monetary Fund
Release Date : 2004-09-30
The Imf And Argentina 1991 2001 written by Mrs.Isabelle Mateos y Lago 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 2004-09-30 with Business & Economics categories.
This report evaluates the role of the IMF in Argentina during 1991-2001, focusing particularly on the period of crisis management from 2000 until early 2002. The primary purpose of the evaluation is to draw lessons for the IMF in its future operational work. The evaluation suggests ten lessons, in the areas of surveillance and program design, crisis management, and the decision-making process, and, on the basis of these lessons, offers six sets of recommendations to improve the effectiveness of IMF policies and procedures.