Book Search:  

 

 
Google full text of our books:

bookjacket

Financial Crises, Liquidity, and the International Monetary System
Jean Tirole

Book Description | Reviews
Introduction [HTML] or [PDF format]

TABLE OF CONTENTS:

Acknowledgments vii
Introduction ix
1. Emerging Markets Crises and Policy Responses 1
The pre-crisis period 1
The crisis 7
IMF reforms, regulatory changes, and private sector innovations 18
2. The Economists' Views 23
Consensus view 23
Conflicting advice and the topsy-turvy principle 29
"Unrealistic" encroachments on sovereignty 36
Theories 36
3. Outline of the Argument and Main Message 47
The problem of a standard borrower 48
Why is external borrowing different? 48
Institutional and policy responses to market failure 50
4. Liquidity and Risk-Management in a Closed Economy 53
Corporate financing: key organizing principles 53
Domestic liquidity provision 70
5. Identification of Market Failure: Are Debtor Countries Ordinary Borrowers? 77
The analogy and a few potential differences 77
A dual-agency perspective 81
The government's incentives 86
Discussion 88
A common-agency perspective 92
6. Implications of the Dual- and Common-Agency Perspectives 97
Implication 1: the representation hypothesis 97
Implication 2: policy analysis 102
Cross-country comparisons 108
Is there a need for an international lender of last resort? 110
7. Institutional Implications: What Role for the IMF? 113
From market failure to mission design 113
Governance 116
8. Conclusion 129
References 131
Index 145

Return to Book Description

File created: 4/17/2014

Questions and comments to: webmaster@press.princeton.edu
Princeton University Press

New Book E-mails
New In Print
PUP Blog
Videos/Audios
Princeton APPS
Sample Chapters
Subjects
Series
Catalogs
Textbooks
For Reviewers
Class Use
Rights
Permissions
Ordering
Recent Awards
Princeton Shorts
Freshman Reading
PUP Europe
About Us
Contact Us
Links
F.A.Q.
PUP Home


Bookmark and Share