Varieties of Capital-Market Crises

Guillermo Calvo

No 6292, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: 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: WP-306; speculative attacks; domestic debt; fiscal deficit; Talvi effects; Krugman's model (search for similar items in EconPapers)
Date: 1995-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

Downloads: (external link)
https://publications.iadb.org/publications/english ... al-Market-Crises.pdf (application/pdf)

Related works:
Chapter: Varieties of Capital-Market Crises (1998)
Working Paper: Varieties of Capital-Market Crises (1995)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:idb:brikps:6292

Access Statistics for this paper

More papers in IDB Publications (Working Papers) from Inter-American Development Bank Contact information at EDIRC.
Bibliographic data for series maintained by Felipe Herrera Library ().