Government Guarantees, Investment, and Vulnerability to Financial Crises.

The paper presents a new model of the East Asian crisis which combines three elements--moral hazard, investment collapse, and multiple equilibria--in a single account. The study locates the causes of the crisis in poor financial regulation, highly leveraged financial institutions, and implicit guara...

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Бібліографічні деталі
Автори: Irwin, G, Vines, D
Формат: Journal article
Мова:English
Опубліковано: 2003