Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/87860
Authors: 
Calvo, Guillermo A.
Year of Publication: 
1995
Series/Report no.: 
Working Paper, Inter-American Development Bank, Office of the Chief Economist 306
Abstract: 
In this post-modern world of high capital mobility, countries are being disciplined by the anonymous capital market. One view of the situation -perhaps the prevalent view among economists- is that Wall Street gets into your hair because you are running an unsustainable economic program and crises are bound to happen. A polar view is that countries are at the mercy of the capital market. This paper attempts to bring these views under one roof, putting special emphasis on balance-of-payment crises.
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.