ADJUSTMENT SPEED OF DEBT MATURITY: EVIDENCE FROM FINANCIAL CRISES IN EAST ASIA

Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia Comment

Different from many other branches of international economics, the literature on currency attacks and financial meltdown cannot quite rely at least not for the time being on a “NeoClassical” theoretical core, that is, on a widely accepted, formally elegant paradigm linking pervasive normative implications to rigorous behavioral microfoundations. But in the absence of a “Neo-Classical” synthesis...

Ignorance, Debt and Financial Crises

In this paper we provide a theory of money markets and private money. We show that preserving symmetric ignorance in liquidity provision is welfare maximizing and strictly dominates symmetric or even perfect information. A key property for the functioning of money markets is when agents have no need to ask questions and no incentive to produce private information about the value of the security...

Determinants Of Financial Integration In The East Asia- Pacific Region

Exchange Rate Adjustment in Financial Crises∗

In the 1990’s many economists criticized emerging market countries for their unwillingness to allow exchange rates to adjust. The ‘fear of floating’ was seen as severe distortion in the international monetary system, and a hindrance to good macroeconomic policy for these countries. In the worst case, a persistent defence of an exchange rate peg could lead to over -borrowing and precipitate curr...

the role of russia in transmission of energy from central asia and caucuses to european union

پس ازفروپاشی شوروی،رشد منابع نفت و گاز، آسیای میانه و قفقاز را در یک بازی ژئوپلتیکی انرژی قرار داده است. با در نظر گرفتن این منابع هیدروکربنی، این منطقه به یک میدانجنگ و رقابت تجاری برای بازی های ژئوپلتیکی قدرت های بزرگ جهانی تبدیل شده است. روسیه منطقه را به عنوان حیات خلوت خود تلقی نموده و علاقمند به حفظ حضورش می باشد تا همانند گذشته گاز طبیعی را به وسیله خط لوله مرکزی دریافت و به عنوان یک واس...