Other People's Money PDF
By:Barry Eichengreen,Ricardo Hausmann
Published on 2010-04-15 by University of Chicago Press
Recent crises in emerging markets have been heavily driven by balance-sheet or net-worth effects. Episodes in countries as far-flung as Indonesia and Argentina have shown that exchange rate adjustments that would normally help to restore balance can be destabilizing, even catastrophic, for countries whose debts are denominated in foreign currencies. Many economists instinctually assume that developing countries allow their foreign debts to be denominated in dollars, yen, or euros because they simply don't know better. Presenting evidence that even emerging markets with strong policies and institutions experience this problem, Other People's Money recognizes that the situation must be attributed to more than ignorance. Instead, the contributors suggest that the problem is linked to the operation of international financial markets, which prevent countries from borrowing in their own currencies. A comprehensive analysis of the sources of this problem and its consequences, Other People's Money takes the study one step further, proposing a solution that would involve having the World Bank and regional development banks themselves borrow and lend in emerging market currencies.
This Book was ranked at 29 by Google Books for keyword International Foreign Exchange novel.
Book ID of Other People's Money's Books is E2OYvVBErtsC, Book which was written byBarry Eichengreen,Ricardo Hausmannhave ETAG "VD0PJJTWy48"
Book which was published by University of Chicago Press since 2010-04-15 have ISBNs, ISBN 13 Code is 9780226194578 and ISBN 10 Code is 0226194574
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Book which have "304 Pages" is Printed at BOOK under CategoryBusiness and Economics
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