Financial Instability and the International Debt Problem (Hardcover)

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.

General

Imprint:	Palgrave Macmillan
Country of origin:	United Kingdom
Series:	Southampton Series in International Economics
Release date:	November 1991
First published:	1992
Authors:	George McKenzie • Stephen Thomas
Dimensions:	216 x 140 x 18mm (L x W x T)
Format:	Hardcover
Pages:	211
ISBN-13:	978-0-333-46419-9
Categories:	Books > Business & Economics > Economics > International economics > International finance
LSN:	0-333-46419-2
Barcode:	9780333464199

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