Bailouts or BailIns? Responding to Financial Crises in Emerging Economies
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Bailouts or BailIns? Responding to Financial Crises in Emerging Economies by Nouriel Roubini
Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt.
Nouriel Roubini is a professor of economics at New York University s Stern School of Business. He has extensive senior policy experience in the federal government, having served from1998 to 2000 in the White House and the U.S. Treasury. He is the founder and chairman of Roubini Global Economics, an economic and financial consulting firm, regularly attends and presents his views at the World Economic Forum at Davos, Switzerland, and other international forums, and is an adviser to central bankers around the world.
Stephen Mihm writes on economic and historical topics for The New York Times Magazine, The Boston Globe, and other publications. The recipient of numerous fellowships, he was the Newcomen Postdoctoral Fellow in Business at Harvard Business School from 2003 to 2004. He is currently an associate professor of history at the University of Georgia, where he teaches courses on American political, cultural, and economic history.
Stephen Mihm writes on economic and historical topics for The New York Times Magazine, The Boston Globe, and other publications. The recipient of numerous fellowships, he was the Newcomen Postdoctoral Fellow in Business at Harvard Business School from 2003 to 2004. He is currently an associate professor of history at the University of Georgia, where he teaches courses on American political, cultural, and economic history.
| SKU | Unavailable |
| ISBN 13 | 9780881323719 |
| ISBN 10 | 0881323713 |
| Title | Bailouts or BailIns? Responding to Financial Crises in Emerging Economies |
| Author | Nouriel Roubini |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | The Peterson Institute for International Economics |
| Year published | 2004-04-30 |
| Number of pages | 348 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |