Bailouts Or Bail-Ins?: Responding to Financial Crises in Emerging EconomiesPeterson Institute, 30 àÁ.Â. 2004 - 348 ˹éÒ Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt. |
¨Ò¡´éÒ¹ã¹Ë¹Ñ§Ê×Í
¼Å¡Òäé¹ËÒ 1 - 5 ¨Ò¡ 90
˹éÒ
... emerging economies . Bailouts or Bail - ins ? will prove to be a useful tool for those confronting these crises , and a clear , accessible overview for those studying global markets . " -Lawrence Summers , former US treasury secretary ...
... emerging economies . Bailouts or Bail - ins ? will prove to be a useful tool for those confronting these crises , and a clear , accessible overview for those studying global markets . " -Lawrence Summers , former US treasury secretary ...
˹éÒ
... Economic Advisers ( 1998-99 ) and senior adviser to the undersecretary for interna- tional affairs and the director of ... emerging economies / Nouriel Roubini , Brad Setser p . cm . Includes bibliographical references and index . ISBN 0 ...
... Economic Advisers ( 1998-99 ) and senior adviser to the undersecretary for interna- tional affairs and the director of ... emerging economies / Nouriel Roubini , Brad Setser p . cm . Includes bibliographical references and index . ISBN 0 ...
˹éÒ
Responding to Financial Crises in Emerging Economies Nouriel Roubini, Brad Setser. Authors Nouriel Roubini and Brad Setser argue that private creditors have contributed far more emergency financing in recent crisis cases than is commonly ...
Responding to Financial Crises in Emerging Economies Nouriel Roubini, Brad Setser. Authors Nouriel Roubini and Brad Setser argue that private creditors have contributed far more emergency financing in recent crisis cases than is commonly ...
˹éÒ 1
Responding to Financial Crises in Emerging Economies Nouriel Roubini, Brad Setser. Introduction Roughly once a year ... emerging- market economy . The precise details of each conversation differ , but the core does not . The emerging ...
Responding to Financial Crises in Emerging Economies Nouriel Roubini, Brad Setser. Introduction Roughly once a year ... emerging- market economy . The precise details of each conversation differ , but the core does not . The emerging ...
˹éÒ 3
... emerging economies . Former US Treasury Secretary Robert Rubin has said that if he had his druthers , he would not have lent a " nickel " to bail out private creditors . He also has noted that it is often hard to help a country - or to ...
... emerging economies . Former US Treasury Secretary Robert Rubin has said that if he had his druthers , he would not have lent a " nickel " to bail out private creditors . He also has noted that it is often hard to help a country - or to ...
©ºÑºÍ×è¹æ - ´Ù·Ñé§ËÁ´
¤ÓáÅÐÇÅÕ·Õ辺ºèÍÂ
ability able action adjustment allow amount approach Argentina assets avoid bailout balance banking system bankruptcy banks billion bonds borrowing Brazil capital chapter claims clauses commitment contracts controls costs country's create crises crisis currency debt restructuring debtor default deficits deposits difficulties discussed dollar domestic effectively emerging economies example exchange rate existing exposure external debt fall financing firms fiscal foreign funds guarantee hold IMF lending IMF's incentives increase institutions interest investors ISBN issue lead lender lending less limit liquidity litigation loans losses major maturing ment Mexico models moral hazard offer official options Paris Club payments percent priority private creditors problems proposal protection recent reduce regime relative requires reserves risk rollover Russia short-term sovereign debt standstill stop structure Trade Turkey World
º·¤ÇÒÁ·Õèà»ç¹·Õè¹ÔÂÁ
˹éÒ 1 - The G-7 countries are the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada.
˹éÒ 190 - No one category of private creditors should be regarded as inherently privileged relative to others in a similar position. When both are material, claims of bondholders should not be viewed as