skip to content
Other people's money : debt denomination and financial instability in emerging market economies Preview this item
ClosePreview this item
Checking...

Other people's money : debt denomination and financial instability in emerging market economies

Author: Barry J Eichengreen; Ricardo Hausmann
Publisher: Chicago : University of Chicago Press, 2005.
Edition/Format:   Book : EnglishView all editions and formats
Database:WorldCat
Summary:
"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  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Barry J Eichengreen; Ricardo Hausmann
ISBN: 0226194558 9780226194554
OCLC Number: 55887438
Description: vii, 296 p. : ill. ; 24 cm.
Contents: The pain of original sin --
Must original sin cause macroeconomic damnation? --
A fiscal perspective on currency crises and "original sin" --
Original sin, balance-sheet crises, and the roles of international lending --
How original sin was overcome : the evolution of external debt denominated in domestic currencies in the United States and the British dominions, 1800-2000 --
Old sins : exchange clauses and European foreign lending in the nineteenth century --
Why do emerging economies borrow in foreign currency? --
Why do countries borrow the way they borrow? --
The mystery of original sin --
Original sin : the road to redemption.
Responsibility: edited by Barry Eichengreen and Ricardo Hausmann.
More information:

Abstract:

"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 that 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 by proposing a solution that would involve having the World Bank and regional development banks themselves borrow and lend in emerging market currencies." "Painstakingly researched, this volume combines case studies, mathematical analysis, historical analysis, and public policy to provide students, economists, policymakers, and others with a state-of-the-art overview of the debt denomination problem and its potential solutions."--Jacket.

Reviews

Editorial reviews

Publisher Synopsis

""Other People''s Money" asks why some countries issue debt mostly in a foreign currency and therefore expose their balance sheets to the ebbs and flows of international finance. The essays approach Read more...

 
User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


<http://www.worldcat.org/oclc/55887438>
library:oclcnum"55887438"
library:placeOfPublication
library:placeOfPublication
owl:sameAs<info:oclcnum/55887438>
rdf:typeschema:Book
rdfs:seeAlso
schema:about
rdf:typeschema:Intangible
schema:name"Dettes extérieures--Pays en voie de développement."
schema:about
schema:about
schema:about
schema:about
schema:about
rdf:typeschema:Intangible
schema:name"Mouvements de capitaux--Pays en voie de développement."
schema:about
schema:about
rdf:typeschema:Intangible
schema:name"Finances--Pays en voie de développement."
schema:about
schema:about
schema:about
schema:about
schema:about
schema:about
schema:about
rdf:typeschema:Intangible
schema:name"Politique monétaire--Pays en voie de développement."
schema:contributor
schema:contributor
schema:datePublished"2005"
schema:description"The pain of original sin -- Must original sin cause macroeconomic damnation? -- A fiscal perspective on currency crises and "original sin" -- Original sin, balance-sheet crises, and the roles of international lending -- How original sin was overcome : the evolution of external debt denominated in domestic currencies in the United States and the British dominions, 1800-2000 -- Old sins : exchange clauses and European foreign lending in the nineteenth century -- Why do emerging economies borrow in foreign currency? -- Why do countries borrow the way they borrow? -- The mystery of original sin -- Original sin : the road to redemption."
schema:exampleOfWork<http://worldcat.org/entity/work/id/1044588151>
schema:inLanguage"en"
schema:name"Other people's money : debt denomination and financial instability in emerging market economies"
schema:numberOfPages"296"
schema:publisher
rdf:typeschema:Organization
schema:name"University of Chicago Press"
schema:reviews
rdf:typeschema:Review
schema:itemReviewed<http://www.worldcat.org/oclc/55887438>
schema:reviewBody""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 that 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 by proposing a solution that would involve having the World Bank and regional development banks themselves borrow and lend in emerging market currencies." "Painstakingly researched, this volume combines case studies, mathematical analysis, historical analysis, and public policy to provide students, economists, policymakers, and others with a state-of-the-art overview of the debt denomination problem and its potential solutions."--Jacket."
schema:workExample
schema:workExample
umbel:isLike<http://bnb.data.bl.uk/id/resource/GBA481583>

Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.