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Donald Lessard ()

A chapter in World Trade: Monetary Order and Latin America, 1990, pp 146-148 from Palgrave Macmillan

Abstract: Abstract Roque Fernandez has provided an illuminating and provocative view of the causes of, and potential solutions to, financial crises, both internal and external, in less developed countries (LDCs). His key point, as I understand it, is that unless the value of the financial claims in an economy can and are allowed to adjust to changes in the (present) value of real assets, the system will explode. Although he makes his argument in the context of the bank failures experienced in Argentina during 1984, it is a much broader one that deserves greater recognition and deeper treatment in analyses of LDC finances.

Keywords: Real Interest Rate; Monetary Authority; Foreign Exchange Market; Bank Failure; Real Asset (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08812-6_10

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DOI: 10.1007/978-1-349-08812-6_10

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