Varieties of Capital-Market Crises
No 6292, IDB Publications (Working Papers) from Inter-American Development Bank
In this post-modern world of high capital mobility, countries are being disciplined by the anonymous capital market. One view of the situation -perhaps the prevalent view among economists- is that Wall Street gets into your hair because you are running an unsustainable economic program and crises are bound to happen. A polar view is that countries are at the mercy of the capital market. This paper attempts to bring these views under one roof, putting special emphasis on balance-of-payment crises.
Keywords: Fiscal management; Financial Crises & Structural Adjustement; Financial Markets; WP-306; speculative attacks; domestic debt; fiscal deficit; Talvi effects; Krugman's model (search for similar items in EconPapers)
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Working Paper: Varieties of Capital-Market Crises (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:idb:brikps:6292
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