Financial instability and the international debt problem
McKenzie, George and Thomas, Stephen (1991) Financial instability and the international debt problem, Basingstoke, UK, Palgrave Macmillan, 224pp. (Southampton Series in International Economics).
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Description/Abstract
The authors argue clearly and convincingly in this book 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.
Contents
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
| Item Type: | Book |
|---|---|
| ISBNs: | 0333464192 (hardback) |
| Related URLs: | |
| Subjects: | H Social Sciences > HG Finance H Social Sciences > HB Economic Theory |
| Divisions: | University Structure - Pre August 2011 > School of Management |
| Item ID: | 36772 |
| Date Deposited: | 24 Apr 2007 |
| Last Modified: | 02 Mar 2012 13:51 |
| Contributors: | McKenzie, George (Author) Thomas, Stephen (Author) |
| Date: | 1991 |
| Status: | Published |
| Publisher: | Palgrave Macmillan |
| URI: | http://eprints.soton.ac.uk/id/eprint/36772 |
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