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dc.titleVarieties of Capital-Market Crises
dc.contributor.authorCalvo, Guillermo A.
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageThe Caribbean
dc.coverageCentral America
dc.coverageSouth America
dc.date.available2010-12-06T00:00:00
dc.date.issue1995-08-01T00:00:00
dc.description.abstractIn 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.
dc.format.extent22
dc.identifier.doihttp://dx.doi.org/10.18235/0011612
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Varieties-of-Capital-Market-Crises.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectFiscal Management
dc.subjectFinancial Crisis and Structural Adjustement
dc.subjectFinancial Market
dc.subject.keywordsWP-306;speculative attacks;domestic debt;fiscal deficit;Talvi effects;Krugman's model
idb.identifier.pubnumberWorking Papers
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