The Late 1990s Financial Crisis In Ecuador
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The Late 1990s Financial Crisis In Ecuador
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Author : Luis I. Jácome
language : en
Publisher:
Release Date : 2006
The Late 1990s Financial Crisis In Ecuador written by Luis I. Jácome 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.
This paper stresses three factors that amplified the 1990s financial crisis in Ecuador, namely institutional weaknesses, rigidities in public finances, and high financial dollarization. Institutional factors restricted the government`s ability to respond in a timely manner and efficiently enough to prevent the escalation of the banking crisis and spurred the adoption of suboptimal policy decisions. Public finance rigidities limited the government`s capacity to correct existing imbalances and the deteriorating fiscal stance associated with the costs of the financial crisis. Financial dollarization increasingly reduced the effectiveness of financial safety nets, fostered foreign currency demand, and accelerated a currency crisis, thereby further worsening the solvency of banks. These three factors reinforced each other, exacerbating costs as the economy went through a triple banking, currency, and fiscal crisis.
The Late 1990 S Financial Crisis In Ecuador
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Author : Luis Ignacio Jácome
language : en
Publisher: International Monetary Fund
Release Date : 2004
The Late 1990 S Financial Crisis In Ecuador written by Luis Ignacio Jácome 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 with Business & Economics categories.
This paper stresses three factors that amplified the 1990s financial crisis in Ecuador, namely institutional weaknesses, rigidities in public finances, and high financial dollarization. Institutional factors restricted the government's ability to respond in a timely manner and efficiently enough to prevent the escalation of the banking crisis and spurred the adoption of suboptimal policy decisions. Public finance rigidities limited the government's capacity to correct existing imbalances and the deteriorating fiscal stance associated with the costs of the financial crisis. Financial dollarization increasingly reduced the effectiveness of financial safety nets, fostered foreign currency demand, and accelerated a currency crisis, thereby further worsening the solvency of banks. These three factors reinforced each other, exacerbating costs as the economy went through a triple banking, currency, and fiscal crisis.
The Japanese Banking Crisis Of The 1990 S
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Author : Mr.Akihiro Kanaya
language : en
Publisher: International Monetary Fund
Release Date : 2000-01-01
The Japanese Banking Crisis Of The 1990 S written by Mr.Akihiro Kanaya 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 2000-01-01 with Business & Economics categories.
For a large part of the past decade, Japan has witnessed a steady deterioration in the health of its banking system. This paper examines what went wrong and why it has taken so long for the system to recover. While the paper traces the roots of the crisis to accelerated deregulation and deepening of capital markets without an appropriate adjustment in the regulatory framework, it identifies weak corporate governance and regulatory forbearance as the two factors behind what might have been an unnecessary prolongation of the distress of the financial system.
Central Banking In Latin America
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Author : Mr.Luis Ignacio Jácome
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-17
Central Banking In Latin America written by Mr.Luis Ignacio Jácome 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 2015-03-17 with Business & Economics categories.
This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.
Gendered Paradoxes
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Author : Amy Lind
language : en
Publisher: Penn State Press
Release Date : 2010-11-01
Gendered Paradoxes written by Amy Lind and has been published by Penn State Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-01 with Social Science categories.
Since the early 1980s Ecuador has experienced a series of events unparalleled in its history. Its &“free market&” strategies exacerbated the debt crisis, and in response new forms of social movement organizing arose among the country&’s poor, including women&’s groups. Gendered Paradoxes focuses on women&’s participation in the political and economic restructuring process of the past twenty-five years, showing how in their daily struggle for survival Ecuadorian women have both reinforced and embraced the neoliberal model yet also challenged its exclusionary nature. Drawing on her extensive ethnographic fieldwork and employing an approach combining political economy and cultural politics, Amy Lind charts the growth of several strands of women&’s activism and identifies how they have helped redefine, often in contradictory ways, the real and imagined boundaries of neoliberal development discourse and practice. In her analysis of this ambivalent and &“unfinished&” cultural project of modernity in the Andes, she examines state policies and their effects on women of various social sectors; women&’s community development initiatives and responses to the debt crisis; and the roles played by feminist &“issue networks&” in reshaping national and international policy agendas in Ecuador and in developing a transnationally influenced, locally based feminist movement.
Global Waves Of Debt
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Author : M. Ayhan Kose
language : en
Publisher: World Bank Publications
Release Date : 2021-03-03
Global Waves Of Debt written by M. Ayhan Kose 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 2021-03-03 with Business & Economics categories.
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
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.
Economic And Financial Crises In Emerging Market Economies
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Author : Martin Feldstein
language : en
Publisher: University of Chicago Press
Release Date : 2007-11-01
Economic And Financial Crises In Emerging Market Economies written by Martin Feldstein and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Business & Economics categories.
In the late 1990s, economic and financial crises raged through East Asia, devastating economies that had previously been considered among the strongest in the developing world. The crises eventually spread to Russia, Turkey, and Latin America, and impacted the economies of many industrialized nations as well. In today's increasingly interdependent world, finding ways to reduce the risk of future crises—and to improve the management of crises when they occur—has become an international policy challenge of paramount importance. This book rises to that challenge, presenting accessible papers and commentaries on the topic not only from leading academic economists, but also from high-ranking government officials (in both industrial and developing nations), senior policymakers at international institutions, and major financial investors. Six non-technical papers, each written by a specialist in the topic, provide essential economic background, introducing sections on exchange rate regimes, financial policies, industrial country policies, IMF stabilization policies, IMF structural programs, and creditor relations. Next, personal statements from the major players give firsthand accounts of what really went on behind the scenes during the crises, giving us a rare glimpse into how international economic policy decisions are actually made. Finally, wide-ranging discussions and debates sparked by these papers and statements are summarized at the end of each section. The result is an indispensable overview of the key issues at work in these crises, written by the people who move markets and reshape economies, and accessible to not just economists and policymakers, but also to educated general readers. Contributors: Montek S. Ahluwalia, Domingo F. Cavallo, William R. Cline, Andrew Crockett, Michael P. Dooley, Sebastian Edwards, Stanley Fischer, Arminio Fraga, Jeffrey Frankel, Jacob Frenkel, Timothy F. Geithner, Morris Goldstein, Paul Keating, Mervyn King, Anne O. Krueger, Roberto Mendoza, Frederic S. Mishkin, Guillermo Ortiz, Yung Chul Park, Nouriel Roubini, Robert Rubin, Jeffrey Sachs, Ammar Siamwalla, George Soros
Imagining Ecuador
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Author : LuisA. Medina Cordova
language : en
Publisher: Boydell & Brewer
Release Date : 2022-11-22
Imagining Ecuador written by LuisA. Medina Cordova and has been published by Boydell & Brewer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-22 with categories.
Winner of the 2020-21 AHGBI-Spanish Embassy Publication Prize In March 1999, in an effort to stave off financial collapse, the Ecuadorian government suspended all banking operations and froze all bank accounts in the country for a period of five days. This episode, the Feriado Bancario, represents the peak of the worst financial crisis in the nation's history and one which had far-reaching and long-last effects on society, politics, the economy, and cultural production. The very idea of 'Ecuador' was transformed, as Ecuador became a country marked by constant interaction with the world beyond its borders. This book explores how contemporary Ecuadorian authors are reimagining the nation following the Feriado Bancario. Starting from a rereading of Ecuador's national novel, Jorge Icaza's Huasipungo (1930), which saw the nation as rooted in the land, the book examines post-crisis fiction which offers an image of Ecuador as a transnational space. It posits that these novels - Eliécer Cárdenas' El oscuro final del Porvenir (2000), Leonardo Valencia's Kazbek (2008), Carlos Arcos' Memorias de Andrés Chiliquinga (2013), and Gabriela Alemán's Humo (2017) - both reflect and explain the new reality of Ecuador as a nation that can no longer be defined by its territory. At the same time, the book uses the Ecuadorian case to challenge the conceptualisation of Latin American literature as 'post-national' and to show how countries on the periphery of the global literary market can, from the very fact of their minoritarian position, enrich and better define World Literature.
Sovereign Debt Crises
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Author : Juan Pablo Bohoslavsky
language : en
Publisher: Cambridge University Press
Release Date : 2017-11-02
Sovereign Debt Crises written by Juan Pablo Bohoslavsky and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-02 with Business & Economics categories.
Contributes to a better understanding of the policy, economic, and legal options of countries struggling with debt problems.