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What Makes Balance Sheet Effects Detrimental for the Country Risk Premium?* »
Chapter
Source: Dollars, Debt, and Deficits : Sixty Years After Bretton Woods
Series: Seminar Volumes
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2005
ISBN: 9781589064539
Keywords: Deficit financing, Budget deficits, exchange rate, public debt, foreign assets, current account, foreign liabilities
Introduction During the second half of the 1990s emerging countries have experienced very large swings in the external cost of capital as well as several financial crises, with a lar...