The authors argue clearly and convincingly in this book that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks.
1000855407
Financial Instability and the International Debt Problem
The authors argue clearly and convincingly in this book that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks.
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Financial Instability and the International Debt Problem
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Financial Instability and the International Debt Problem
211Paperback(1st ed. 1992)
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Product Details
| ISBN-13: | 9781349217328 |
|---|---|
| Publisher: | Palgrave Macmillan UK |
| Publication date: | 01/25/2016 |
| Series: | Southampton Series in International Economics Series |
| Edition description: | 1st ed. 1992 |
| Pages: | 211 |
| Product dimensions: | 5.51(w) x 8.50(h) x 0.02(d) |
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