Moral hazard :: does IMF financing encourage imprudence by borrowers and lenders? /

"The argument that IMF financing creates moral hazard cannot be lightly dismissed. From the outset, this pamphlet recognizes that, to the extent IMF-supported programs try to contain the total economic costs of financial crises, some element of moral hazard - a greater willingness of creditors...

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Bibliographische Detailangaben
Hauptverfasser: Lane, Timothy D. (Timothy David), 1955- (VerfasserIn), Phillips, Steven, 1961- (VerfasserIn)
Körperschaft: International Monetary Fund. External Relations Department
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: [Washington, D.C.] : International Monetary Fund, 2002.
Schriftenreihe:Economic issues (International Monetary Fund) ; 28.
Schlagworte:
Online-Zugang:Volltext
Zusammenfassung:"The argument that IMF financing creates moral hazard cannot be lightly dismissed. From the outset, this pamphlet recognizes that, to the extent IMF-supported programs try to contain the total economic costs of financial crises, some element of moral hazard - a greater willingness of creditors and debtors to take risks of such crises - is, in principle, an unavoidable consequence. But the key question, rather than a matter of presence or absence, is the degree of moral hazard. The most basic evidence, even in the case of countries that are supposed to be too big to fail, refutes the most extreme hypothesis - that investors believe they have a full guarantee from the IMF in the event of a financial crisis."--Preface.
Beschreibung:Guillermo and Michèle de la Dehesa Legacy Collection. "This Economic Issue is based on IMF Working Paper WP/00/168, 'Does IMF financing result in moral hazard?', October 2000"--Page iii.
Beschreibung:1 online resource (v, 15 pages :)
Format:Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliographie:Includes bibliographical references.
ISBN:9781451935219
1451935218
1462318975
9781462318971
1452700923
9781452700922
1455294314
9781455294312
145270192X
9781452701929
ISSN:1020-5098 ;