Financial Instability and the International Debt Problem (Hardcover) (ISBN-13: 9780333464199)

The authors argue clearly and convincingly in this book that the debt crisis which has plagued the world economy for the past ten years is due to the inherent fragility of financial markets. Governments, financial institutions and borrowers, including developing countries, have simply expected too much from these markets. In a world of volatile interest rates, exchange rates and uncertain government policy, it is virtually impossible for financial institutions to effectively distinguish fundamental shifts in economic activity from random shocks.

Author: George McKenzie,Stephen Thomas
ISBN-10: 0333464192
ISBN-13: 9780333464199
Publisher: Palgrave MacMillan
Language: English
Published: 11/25/1991
Pages: 211
Format: Hardcover
Weight: 0.95lbs
Size: 8.50h x 5.50w x 0.63d