Crises and Liquidity: Evidence and Interpretation
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Detragiache, Enrica (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2001
Schriftenreihe:IMF Working Papers Working Paper No. 01/2
Links:http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
http://elibrary.imf.org/view/IMF001/01443-9781451841763/01443-9781451841763/01443-9781451841763.xml
Abstract:In a large panel of countries, we find that less liquid countries are more likely to default on their external debt. Specifically, for given total external debt, the probability of a crisis increases with the proportion of short-term debt and debt service coming due and decreases with foreign exchange reserves. This correlation, however, is consistent with a standard model of optimal default and need not be ascribed to self-fulfilling creditor runs. Also, the correlation with short-term debt appears to be driven by joint endogeneity. The policy implications are discussed
Umfang:1 Online-Ressource (30 p)
ISBN:1451841760
9781451841763