Financial Instability and the International Debt Problem

McKenzie, George; Thomas, Stephen

The authors argue clearly and convincingly in this book that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks.

Details

Published by: Palgrave Macmillan

Publication Date: 1992-01-15

Format: Paperback

ISBN-13: 9781349217328

DOI: 10.1007/978-1-349-21730-4

Dimensions: 216cm x140cm

Pages: 211