Coverart for item
The Resource Emerging capital markets in turmoil : bad luck or bad policy, Guillermo A. Calvo, (electronic resource)

Emerging capital markets in turmoil : bad luck or bad policy, Guillermo A. Calvo, (electronic resource)

Label
Emerging capital markets in turmoil : bad luck or bad policy
Title
Emerging capital markets in turmoil
Title remainder
bad luck or bad policy
Statement of responsibility
Guillermo A. Calvo
Creator
Contributor
Subject
Language
eng
Summary
Annotation:
Cataloging source
CaPaEBR
http://library.link/vocab/creatorName
Calvo, Guillermo A
Dewey number
332/.09172/4
LC call number
HB3722
LC item number
.C35 2005eb
http://library.link/vocab/relatedWorkOrContributorName
ebrary, Inc
http://library.link/vocab/subjectName
  • Financial crises
  • Capital market
  • Financial crises
  • Capital market
Summary expansion
Since the mid-1990s, emerging market economies have been hit by dramatic highs and lows: lifted by large capital inflows, then plunged into chaos by constrained credit and out-of-control exchange rates. The conventional wisdom about such crises is strongly influenced by the experience of advanced economies. In Emerging Capital Markets in Turmoil, Guillermo Calvo examines these issues instead from the perspective of emerging market economies themselves, taking into account the limitations and vulnerabilities these economies confront. A succession of crises -- Mexico in 1994-5, East Asia in 1997, Russia in 1998, and Argentina in 2001 -- prompted an urgent search in economic policy circles for cogent explanations. Calvo begins by laying the groundwork for a new approach to these issues. In the theoretical chapters that follow, he argues that financial crisis theory regarding emerging markets has progressed from focusing on such variables as fiscal deficits, debt sustainability, and real currency devaluation to stressing the role of the financial sector -- emphasizing stocks rather than flows as well as the role credibility plays in containing financial crises. He then returns to a more empirical analysis and focuses on exchange-rate issues, considering the advantages and disadvantages of flexible exchange rates for emerging market economies. Coming after a decade of ongoing crises, Calvo's timely reassessment of the importance of external factors in making emerging market economies safer from financial turmoil offers important policy lessons for dealing with inevitable future episodes of financial crises
Label
Emerging capital markets in turmoil : bad luck or bad policy, Guillermo A. Calvo, (electronic resource)
Instantiates
Publication
Bibliography note
Includes bibliographical references (p. [531]-532) and index
Control code
OCM1bookssj0000145875
Dimensions
unknown
Extent
xiii, 547 p.
Governing access note
License restrictions may limit access
Isbn
9780262033343
Isbn Type
(alk. paper)
Other physical details
ill.
Specific material designation
remote
System control number
(WaSeSS)ssj0000145875
Label
Emerging capital markets in turmoil : bad luck or bad policy, Guillermo A. Calvo, (electronic resource)
Publication
Bibliography note
Includes bibliographical references (p. [531]-532) and index
Control code
OCM1bookssj0000145875
Dimensions
unknown
Extent
xiii, 547 p.
Governing access note
License restrictions may limit access
Isbn
9780262033343
Isbn Type
(alk. paper)
Other physical details
ill.
Specific material designation
remote
System control number
(WaSeSS)ssj0000145875

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