Other people's money: debt denomination and financial instability in emerging market economies
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Chicago
University of Chicago Press
2005
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Beschreibung: | Includes bibliographical references and index The pain of original sin -- Must original sin cause macroeconomic damnation? -- A fiscal perspective on currency crises and "original sin" -- Original sin, balance-sheet crises, and the roles of international lending -- How original sin was overcome : the evolution of external debt denominated in domestic currencies in the United States and the British dominions, 1800-2000 -- Old sins : exchange clauses and European foreign lending in the nineteenth century -- Why do emerging economies borrow in foreign currency? -- Why do countries borrow the way they borrow? -- The mystery of original sin -- Original sin : the road to redemption Annotation Recent crises in emerging markets have been heavily driven by balance-sheet or net-worth effects. Episodes in countries as far-flung as Indonesia and Argentina have shown that exchange rate adjustments that would normally help to restore balance can be destabilizing, even catastrophic, for countries whose debts are denominated in foreign currencies. Many economists instinctually assume that developing countries allow their foreign debts to be denominated in dollars, yen, or euros because they simply don't know better. Presenting evidence that even emerging markets with strong policies and institutions experience this problem, Other People's Moneyrecognizes that the situation must be attributed to more than ignorance. Instead, the contributors suggest that the problem is linked to the operation of international financial markets, which prevent countries from borrowing in their own currencies. A comprehensive analysis of the sources of this problem and its consequences, Other People's Moneytakes the study one step further, proposing a solution that would involve having the World Bank and regional development banks themselves borrow and lend in emerging market currencies |
| Beschreibung: | 1 Online-Ressource (vii, 296 p.) |
| ISBN: | 9780226194578 0226194574 9780226194554 |
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| 500 | |a Annotation Recent crises in emerging markets have been heavily driven by balance-sheet or net-worth effects. Episodes in countries as far-flung as Indonesia and Argentina have shown that exchange rate adjustments that would normally help to restore balance can be destabilizing, even catastrophic, for countries whose debts are denominated in foreign currencies. Many economists instinctually assume that developing countries allow their foreign debts to be denominated in dollars, yen, or euros because they simply don't know better. Presenting evidence that even emerging markets with strong policies and institutions experience this problem, Other People's Moneyrecognizes that the situation must be attributed to more than ignorance. Instead, the contributors suggest that the problem is linked to the operation of international financial markets, which prevent countries from borrowing in their own currencies. A comprehensive analysis of the sources of this problem and its consequences, Other People's Moneytakes the study one step further, proposing a solution that would involve having the World Bank and regional development banks themselves borrow and lend in emerging market currencies | ||
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Datensatz im Suchindex
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| dewey-ones | 332 - Financial economics |
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| publisher | University of Chicago Press |
| record_format | marc |
| spelling | Other people's money debt denomination and financial instability in emerging market economies edited by Barry Eichengreen and Ricardo Hausmann Chicago University of Chicago Press 2005 1 Online-Ressource (vii, 296 p.) txt rdacontent c rdamedia cr rdacarrier Includes bibliographical references and index The pain of original sin -- Must original sin cause macroeconomic damnation? -- A fiscal perspective on currency crises and "original sin" -- Original sin, balance-sheet crises, and the roles of international lending -- How original sin was overcome : the evolution of external debt denominated in domestic currencies in the United States and the British dominions, 1800-2000 -- Old sins : exchange clauses and European foreign lending in the nineteenth century -- Why do emerging economies borrow in foreign currency? -- Why do countries borrow the way they borrow? -- The mystery of original sin -- Original sin : the road to redemption Annotation Recent crises in emerging markets have been heavily driven by balance-sheet or net-worth effects. Episodes in countries as far-flung as Indonesia and Argentina have shown that exchange rate adjustments that would normally help to restore balance can be destabilizing, even catastrophic, for countries whose debts are denominated in foreign currencies. Many economists instinctually assume that developing countries allow their foreign debts to be denominated in dollars, yen, or euros because they simply don't know better. Presenting evidence that even emerging markets with strong policies and institutions experience this problem, Other People's Moneyrecognizes that the situation must be attributed to more than ignorance. Instead, the contributors suggest that the problem is linked to the operation of international financial markets, which prevent countries from borrowing in their own currencies. A comprehensive analysis of the sources of this problem and its consequences, Other People's Moneytakes the study one step further, proposing a solution that would involve having the World Bank and regional development banks themselves borrow and lend in emerging market currencies Mouvements de capitaux / Pays en voie de développement Dettes extérieures / Pays en voie de développement Finances / Pays en voie de développement Politique monétaire / Pays en voie de développement BUSINESS & ECONOMICS / Finance bisacsh Kapitaalverkeer gtt Capital movements fast Debts, External fast Finance fast Monetary policy fast Entwicklungsländer Wirtschaft Capital movements Developing countries Debts, External Developing countries Finance Developing countries Monetary policy Developing countries Internationale Kapitalbewegung (DE-588)4162044-6 gnd rswk-swf Auslandsschulden (DE-588)4003783-6 gnd rswk-swf Emerging Market (DE-588)4398432-0 gnd rswk-swf Kapitalbewegung (DE-588)4132737-8 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf 1\p (DE-588)4143413-4 Aufsatzsammlung gnd-content Entwicklungsländer (DE-588)4014954-7 g Emerging Market (DE-588)4398432-0 s Geldpolitik (DE-588)4019902-2 s Auslandsschulden (DE-588)4003783-6 s Internationale Kapitalbewegung (DE-588)4162044-6 s 2\p DE-604 Kapitalbewegung (DE-588)4132737-8 s 3\p DE-604 Eichengreen, Barry J. Sonstige oth Hausmann, Ricardo Sonstige oth Erscheint auch als Druck-Ausgabe, Hardcover 0-226-19455-8 http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=322664 Aggregator Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Other people's money debt denomination and financial instability in emerging market economies Mouvements de capitaux / Pays en voie de développement Dettes extérieures / Pays en voie de développement Finances / Pays en voie de développement Politique monétaire / Pays en voie de développement BUSINESS & ECONOMICS / Finance bisacsh Kapitaalverkeer gtt Capital movements fast Debts, External fast Finance fast Monetary policy fast Entwicklungsländer Wirtschaft Capital movements Developing countries Debts, External Developing countries Finance Developing countries Monetary policy Developing countries Internationale Kapitalbewegung (DE-588)4162044-6 gnd Auslandsschulden (DE-588)4003783-6 gnd Emerging Market (DE-588)4398432-0 gnd Kapitalbewegung (DE-588)4132737-8 gnd Geldpolitik (DE-588)4019902-2 gnd |
| subject_GND | (DE-588)4162044-6 (DE-588)4003783-6 (DE-588)4398432-0 (DE-588)4132737-8 (DE-588)4019902-2 (DE-588)4014954-7 (DE-588)4143413-4 |
| title | Other people's money debt denomination and financial instability in emerging market economies |
| title_auth | Other people's money debt denomination and financial instability in emerging market economies |
| title_exact_search | Other people's money debt denomination and financial instability in emerging market economies |
| title_full | Other people's money debt denomination and financial instability in emerging market economies edited by Barry Eichengreen and Ricardo Hausmann |
| title_fullStr | Other people's money debt denomination and financial instability in emerging market economies edited by Barry Eichengreen and Ricardo Hausmann |
| title_full_unstemmed | Other people's money debt denomination and financial instability in emerging market economies edited by Barry Eichengreen and Ricardo Hausmann |
| title_short | Other people's money |
| title_sort | other people s money debt denomination and financial instability in emerging market economies |
| title_sub | debt denomination and financial instability in emerging market economies |
| topic | Mouvements de capitaux / Pays en voie de développement Dettes extérieures / Pays en voie de développement Finances / Pays en voie de développement Politique monétaire / Pays en voie de développement BUSINESS & ECONOMICS / Finance bisacsh Kapitaalverkeer gtt Capital movements fast Debts, External fast Finance fast Monetary policy fast Entwicklungsländer Wirtschaft Capital movements Developing countries Debts, External Developing countries Finance Developing countries Monetary policy Developing countries Internationale Kapitalbewegung (DE-588)4162044-6 gnd Auslandsschulden (DE-588)4003783-6 gnd Emerging Market (DE-588)4398432-0 gnd Kapitalbewegung (DE-588)4132737-8 gnd Geldpolitik (DE-588)4019902-2 gnd |
| topic_facet | Mouvements de capitaux / Pays en voie de développement Dettes extérieures / Pays en voie de développement Finances / Pays en voie de développement Politique monétaire / Pays en voie de développement BUSINESS & ECONOMICS / Finance Kapitaalverkeer Capital movements Debts, External Finance Monetary policy Entwicklungsländer Wirtschaft Capital movements Developing countries Debts, External Developing countries Finance Developing countries Monetary policy Developing countries Internationale Kapitalbewegung Auslandsschulden Emerging Market Kapitalbewegung Geldpolitik Aufsatzsammlung |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=322664 |
| work_keys_str_mv | AT eichengreenbarryj otherpeoplesmoneydebtdenominationandfinancialinstabilityinemergingmarketeconomies AT hausmannricardo otherpeoplesmoneydebtdenominationandfinancialinstabilityinemergingmarketeconomies |