Download or read book Lessons from the Crisis in Argentina written by Ms.Christina Daseking and published by International Monetary Fund. This book was released on 2005-02-10 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2001- 02, Argentina experienced one of the worst economic crises in its history. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and economy into a tailspin. Although the economy has since recovered from the worst, the crisis has imposed hardships on the people of Argentina, and the road back to sustained growth and stability is long. The crisis was all the more troubling in light of the fact that Argentina was widely considered a model reformer and was engaged in a succession of IMF-supported programs through much of the 1990s. This Occasional Paper examines the origins of the crisis and its evolution up to early 2002 and draws general policy lessons, both for countries’ efforts to prevent crises and for the IMF’s surveillance and use of its financial resources.

Download or read book Argentina s Economic Growth and Recovery written by Michael Cohen and published by Routledge. This book was released on 2012-05-15 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the causes of the economic and political crisis in Argentina in 2001 and the process of strong economic recovery. It poses the question of how a country which defaulted on its external loans and was widely criticized by international observers could have succeeded in its growth and development despite this decision in 2002. It examines this process in terms of the impact of neo-liberal policies on the economy and the role of development strategy and the state in recovering from the crisis

Download or read book This Time Is Different written by Carmen M. Reinhart and published by Princeton University Press. This book was released on 2011-08-07 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical investigation of financial crises during the last 800 years.

Download or read book Restructuring Government written by M. C. Gupta and published by . This book was released on 1998 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of papers presented at the National Seminar on 'Restructuring Government' held on June 5, 1997, New Delhi.

Download or read book Routine Crisis written by Sarah Muir and published by University of Chicago Press. This book was released on 2021-05-11 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Speaking of crisis -- A suspicious history -- Economies of loss -- Exhausted futures -- Solidary selves -- Argentine afterword.

Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Download or read book Banks Government Bonds and Default written by Nicola Gennaioli and published by International Monetary Fund. This book was released on 2014-07-08 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks increase their exposure to public bonds, especially large banks and when expected bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign defaults. This correlation is mostly due to bonds acquired in pre-default years. These findings shed light on alternative theories of the sovereign default-banking crisis nexus.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Download or read book The Debt Burden and Its Consequences for Monetary Policy written by Guillermo Calvo and published by Springer. This book was released on 1998-02-12 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: In all countries debt and deficits of the public sector are at the heart of economic policy debate. Debt and deficits pose major problems, all the more pressing in Europe because of the Maastricht criteria for entry into European Monetary Union. And in the developing world debt has been associated with major financial crises. This volume, arising from an International Economic Association conference at the Bundesbank, sees academics and policy makers debate the key issues and their implications in theory and practice.

Download or read book Straining at the Anchor written by Gerardo della Paolera and published by University of Chicago Press. This book was released on 2007-12-01 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: The "Argentine disappointment"—why Argentina persistently failed to achieve sustained economic stability during the twentieth century—is an issue that has mystified scholars for decades. In Straining the Anchor, Gerardo della Paolera and Alan M. Taylor provide many of the missing links that help explain this important historical episode. Written chronologically, this book follows the various fluctuations of the Argentine economy from its postrevolutionary volatility to a period of unprecedented prosperity to a dramatic decline from which the country has never fully recovered. The authors examine in depth the solutions that Argentina has tried to implement such as the Caja de Conversión, the nation's first currency board which favored a strict gold-standard monetary regime, the forerunner of the convertibility plan the nation has recently adopted. With many countries now using—or seriously contemplating—monetary arrangements similar to Argentina's, this important and persuasive study maps out one of history's most interesting monetary experiments to show what works and what doesn't.

Download or read book Why Not Default written by Jerome E. Roos and published by Princeton University Press. This book was released on 2019-02-12 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.

Download or read book Argentina s Economic Reforms of the 1990s in Contemporary and Historical Perspective written by Domingo Cavallo and published by Routledge. This book was released on 2017-02-03 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why has Argentina suffered so much political and economic instability? How could Argentina, once one of the wealthiest countries in the world, failed to meet its potential over decades? What lessons can we take from Argentina's successes and failures? Argentina’s economy is - irresistibly - fascinating. Argentina's economic history - its crises and its triumphs cannot be explained in purely economic terms. Argentina's economic history can only be explained in the context of conflicts of interest, of politics, war and peace, boom and bust. Argentina's economic history is also intertwined with ideological struggles over the ideal society and the on-going struggle of ideas. The book comprises two distinct components: an economic history of Argentina from the Spanish colonial period to 1990, followed by a narrative by Domingo Cavallo on the last 25 years of reform and counter reform. Domingo Cavallo has been at the centre of Argentina's economic and political debates for 40 years. He was one of the longest serving cabinet members since the return of democracy in 1983. He is uniquely qualified to help the reader make the connection between historical and current events through all these prisms. His daughter, Sonia Cavallo Runde, is an economist specialized on public policy that currently teaches the politics of development policy. The two Cavallos offer academics and students of economics and finance a long form case study. This book also seeks to offer researchers and policymakers around the world with relevant lessons and insights to similar problems from the Argentine experience.

Download or read book The Crisis that was Not Prevented written by Jan Joost Teunissen and published by . This book was released on 2003 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Argentina s Defaulted Sovereign Debt written by J. F. Hornbeck and published by DIANE Publishing. This book was released on 2010-11 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Dec. 2001, Argentina suffered a severe financial crisis, leading to the largest default on sovereign debt in history. In 2005, Argentina made a one-time unilateral offer on terms highly unfavorable to the creditors. Although 76% of creditors accepted the offer, a diverse group of ¿holdouts¿ opted instead for litigation in hopes of achieving a better settlement in the future. Argentina still owes private creditors $20 billion in defaulted debt and $10 billion in past-due interest, as well as $6.2 billion to Paris Club countries. Contents of this report: Recent Developments; Background to the Current Debt Restructuring; Restructuring Sovereign Debt; Argentina¿s Debt Profile and Rationale for Restructuring (Again); The 2010 Exchange; Outlook. Illustrations.

Download or read book And the Money Kept Rolling In and Out Wall Street the IMF and the Bankrupting of Argentina written by Paul Blustein and published by Public Affairs. This book was released on 2006-04-04 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of "The Chastening" returns with this definitive account of the most spectacular economic meltdown of modern times as he exposes dangerous flaws of the global financial system.

Download or read book We are Millions written by Marcela López Levy and published by Latin America Bureau Short Boo. This book was released on 2004 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1970s, a brutal transference of resources from the poor to the rich has taken place here in Argentina. This book looks at the politics which led to mass poverty and unemployment, and describes the rich and varied social responses to economic meltdown and political crisis.

Download or read book The Effects of Protectionism on a Small Country written by Michael Bahaamonde Connolly and published by World Bank Publications. This book was released on 1994-01-01 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Competently executed series of studies on the distorted trade regime of Uruguay until the late 1980s and the effect of protectionism on a variety of economic outcomes. Topics covered range from the political economy of trade distortions to the sectoral impact of specific regulations. Worth reading"--Handbook of Latin American Studies, v. 57.