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Financial Instability and the International Debt Problem : Southampton Series in International Economics - George McKenzie

Financial Instability and the International Debt Problem

Southampton Series in International Economics

Hardcover Published: 25th November 1991
ISBN: 9780333464199
Number Of Pages: 211

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The conclusion reached in this book is that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks. Therefore mistakes, when identified, are corrected only with a long lag. In addition to a detailed analysis of this thesis, the book contains an evaluation of recent proposals to harmonize international bank regulations and an extensive discussion of how financial markets are absorbing the huge losses which have emanated from the inability of borrowers to meet their debt service payments.

Acknowledgements - The Fundamentals - Objective Risk Assessment - A Behavioural Approach to Financial Institution Behaviour - International Debt: the Anatomy of a Financial Crisis, 1973-1983 - The Maturing Crisis, 1983-1987 - The Market's Response: Debt Swaps - The Regulator's Response: the BIS Capital Adequacy Proposals - Notes - Bibliography - Appendices - Index

ISBN: 9780333464199
ISBN-10: 0333464192
Series: Southampton Series in International Economics
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 211
Published: 25th November 1991
Publisher: SPRINGER VERLAG GMBH
Country of Publication: GB
Dimensions (cm): 21.59 x 13.97  x 1.6
Weight (kg): 0.43
Edition Number: 1