| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6886 |
| 来源ID | Working Paper 6886 |
| Risks to Lenders and Borrowers in International Capital Markets | |
| Benjamin E. Hermalin; Andrew K. Rose | |
| 发表日期 | 1999 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper provides a framework for understanding the risks to borrowers and lenders in capital markets. We begin with a description of a capital markets in a domestic context. This allows us to focus on two key imperfections which lie at the heart of all financial systems: imperfect information, and the difficulty of making credible commitments for repayment. In the international context, these problems tend to be exacerbated. There are also two sources of risk in international borrowing that are absent in a purely domestic context: the risk that sovereign borrowers will default, and the risk of macroeconomic instability that stems from the impact of net capital flows on the monetary system. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w6886 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564397 |
| 推荐引用方式 GB/T 7714 | Benjamin E. Hermalin,Andrew K. Rose. Risks to Lenders and Borrowers in International Capital Markets. 1999. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6886.pdf（1293KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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