Capital Flows and the Twin Crises : The Role of Liquidity /
This paper develops a model that focuses on the interaction of liquidity creation by financial intermediaries with capital flows and exchange rate collapses. The intermediaries' role of transforming maturities is shown to result in larger movements of capital and a higher probability of crisis....
| Autor principal: | |
|---|---|
| Outros Autores: | |
| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
1997.
|
| Colecção: | IMF Working Papers; Working Paper ;
No. 1997/087 |
| Acesso em linha: | Full text available on IMF |