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Financial Crises, Liquidity, and the International Monetary System Book

Financial Crises, Liquidity, and the International Monetary System
Financial Crises, Liquidity, and the International Monetary System, Once upon a time, economists saw capital account liberalization—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises, Financial Crises, Liquidity, and the International Monetary System has a rating of 3.5 stars
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Financial Crises, Liquidity, and the International Monetary System, Once upon a time, economists saw capital account liberalization—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises, Financial Crises, Liquidity, and the International Monetary System
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  • Financial Crises, Liquidity, and the International Monetary System
  • Written by author Jean Tirole
  • Published by Princeton University Press, July 2002
  • Once upon a time, economists saw capital account liberalization—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises
  • "In this remarkably ambitious and insightful book, Jean Tirole tackles the core issues in the economics of international lending with his usual superb clarity of thought. This book is essential reading to anyone interested in understanding the economics b
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Authors

Acknowledgments
Introduction
1Emerging Markets Crises and Policy Responses1
2The Economists' Views23
3Outline of the Argument and Main Message47
4Liquidity and Risk-Management in a Closed Economy53
5Identification of Market Failure: Are Debtor Countries Ordinary Borrowers?77
6Implications of the Dual- and Common-Agency Perspectives97
7Institutional Implications: What Role for the IMF?113
8Conclusion129
References131
Index145


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Financial Crises, Liquidity, and the International Monetary System, Once upon a time, economists saw capital account liberalization—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises, Financial Crises, Liquidity, and the International Monetary System

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Financial Crises, Liquidity, and the International Monetary System, Once upon a time, economists saw capital account liberalization—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises, Financial Crises, Liquidity, and the International Monetary System

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Financial Crises, Liquidity, and the International Monetary System, Once upon a time, economists saw capital account liberalization—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises, Financial Crises, Liquidity, and the International Monetary System

Financial Crises, Liquidity, and the International Monetary System

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