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Financial instability and the international debt problem

Financial instability and the international debt problem
Financial instability and the international debt problem
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
0333464192
Palgrave Macmillan
McKenzie, George
743874f1-e18f-472c-bdd7-ae02dc81c2d3
Thomas, Stephen
f5a5bfe7-9f05-4f81-83d0-14a623c9c14d
McKenzie, George
743874f1-e18f-472c-bdd7-ae02dc81c2d3
Thomas, Stephen
f5a5bfe7-9f05-4f81-83d0-14a623c9c14d

McKenzie, George and Thomas, Stephen (1991) Financial instability and the international debt problem (Southampton Series in International Economics), Basingstoke, UK. Palgrave Macmillan, 224pp.

Record type: Book

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

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Published date: 1991

Identifiers

Local EPrints ID: 36772
URI: http://eprints.soton.ac.uk/id/eprint/36772
ISBN: 0333464192
PURE UUID: 8be43c78-f3c7-4988-8d6f-c147ac9beacf

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Date deposited: 24 Apr 2007
Last modified: 05 Aug 2022 16:38

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Contributors

Author: George McKenzie
Author: Stephen Thomas

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