全球智库信息集成服务系统(G2TT): Liquidity Crises in Emerging Markets: Theory and Policy

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w7272
来源ID	Working Paper 7272
	Liquidity Crises in Emerging Markets: Theory and Policy
	Roberto Chang; Andres Velasco
发表日期	1999-07-01
出版年	1999
语种	英语
摘要	We build a model of financial sector illiquidity in an open economy. Illiquidity defined as a situation in which a country's consolidated financial system has potential short-term obligations in foreign currency that exceed the amount of foreign currency it can have access to on short notice can be associated with self fulfilling bank and/or currency crises. We focus on the policy implications of the model, and study the role of capital inflows and the maturity of external debt, the way in which real exchange rate depreciation can transmit and magnify the effects of bank illiquidity, options for financial regulation, the role of debt and deficits, and the implications of adopting different exchange rate regimes.
主题	International Economics ; International Finance ; International Macroeconomics
URL	https://www.nber.org/papers/w7272
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/564804
推荐引用方式 GB/T 7714	Roberto Chang,Andres Velasco. Liquidity Crises in Emerging Markets: Theory and Policy. 1999.