How to Strengthen the International Financial System by Restructuring Sovereign Balance Sheets

Ross Buckley and Peter Dirou
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Ross Buckley: Tim Fischer Centre for Global Trade & Finance, Faculty of Law, Bond University
Peter Dirou: Treasury Advisor, Ministry of Finance

Annals of Economics and Finance, 2006, vol. 7, issue 2, 257-269

Abstract: The inability of developing nations to borrow in their own currency leads to currency mismatches on their national balance sheets. These mismatches render these economies vulnerable to external shocks and are a major source of damaging volatility for the entire international financial system. This article argues why these mismatches need to be remedied, and how the multilateral development banks and the Paris Club can take the lead in doing so.

Keywords: International lending and debt problems; Sovereign balance sheet structure; Sovereign bond markets (search for similar items in EconPapers)
JEL-codes: F33 F34 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:cuf:journl:y:2006:v:7:i:2:p:257-269

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