Government Guarantees, Investment And Vulnerability To Financial Crises.

This Paper presents a new model of the East Asian crisis that combines three elements - multiple equilibria, investment collapse, and moral hazard - in a single simple account. We locate the causes of the crisis in poor financial regulation, highly-geared financial institutions, and implicit guarant...

Disgrifiad llawn

Manylion Llyfryddiaeth
Prif Awduron: Irwin, G, Vines, D
Fformat: Working paper
Iaith:English
Cyhoeddwyd: CEPR 2000