Other people's money : debt denomination and financial instability in emerging market economies

@inproceedings{Eichengreen2005OtherPM,
  title={Other people's money : debt denomination and financial instability in emerging market economies},
  author={Barry J. Eichengreen and Ricardo Hausmann},
  year={2005}
}
Recent crises in emerging markets have been heavily driven by balance-sheet or net-worth effects. Episodes in countries as far-flung as Indonesia and Argentina have shown that exchange rate adjustments that would normally help to restore balance can be destabilizing, even catastrophic, for countries whose debts are denominated in foreign currencies. Many economists instinctually assume that developing countries allow their foreign debts to be denominated in dollars, yen, or euros because they… CONTINUE READING

Citations

Publications citing this paper.
SHOWING 1-10 OF 92 CITATIONS

Currency Premia and Global Imbalances

Steven J. Riddiough, Lucio Sarno, Pasquale Della Corte
  • 2015
VIEW 4 EXCERPTS
CITES METHODS & BACKGROUND
HIGHLY INFLUENCED

Investing in Local Currency Bond Markets

VIEW 4 EXCERPTS
CITES BACKGROUND & METHODS
HIGHLY INFLUENCED

Dollarization and financial integration

  • J. Economic Theory
  • 2010
VIEW 3 EXCERPTS
CITES BACKGROUND
HIGHLY INFLUENCED

FILTER CITATIONS BY YEAR

2005
2019

CITATION STATISTICS

  • 7 Highly Influenced Citations