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...

詳細記述

書誌詳細
主要な著者: Irwin, G, Vines, D
フォーマット: Journal article
言語:English
出版事項: 2003

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