TY  - GEN
AU  - Calvo, Guillermo A.
TI  - Varieties of Capital-Market Crises
PY  - 2010
Y1  - 2010/12/06
DO  - 10.18235/0011612
AB  - 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.
UR  - https://doi.org/10.18235/0011612
ER  -