| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5510 |
| DP5510 Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private? | |
| Anjan Thakor; Arnoud Boot; Radhakrishnan Gopalan | |
| 发表日期 | 2006-02-09 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | There has been a very rapid rise since the early 1990s in foreign reserves held by developing countries. These reserves have climbed to almost 30% of developing countries' GDP and 8 months of imports. Assuming reasonable spreads between the yield on reserve assets and the cost of foreign borrowing, the income loss to these countries amounts to close to 1% of GDP. Conditional on existing levels of short-term foreign borrowing, this does not represent too steep a price as an insurance premium against financial crises. But why developing countries have not tried harder to reduce short-term foreign liabilities in order to achieve the same level of liquidity (thereby paying a smaller cost in terms of reserve accumulation) remains an important puzzle. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Emerging markets Financial crises |
| URL | https://cepr.org/publications/dp5510 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534364 |
| 推荐引用方式 GB/T 7714 | Anjan Thakor,Arnoud Boot,Radhakrishnan Gopalan. DP5510 Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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