04010nam 2200649Ia 450 991081061820332120200520144314.01-281-39714-897866113971420-88132-460-41-4356-5535-4(CKB)1000000000535170(OCoLC)290580194(CaPaEBR)ebrary10231494(SSID)ssj0000108543(PQKBManifestationID)11129028(PQKBTitleCode)TC0000108543(PQKBWorkID)10044423(PQKB)10001840(MiAaPQ)EBC3385473(Au-PeEL)EBL3385473(CaPaEBR)ebr10231494(CaONFJC)MIL139714(EXLCZ)99100000000053517020031203d2004 uy 0engurcn|||||||||txtccrBailouts or bail-ins? responding to financial crises in emerging economies /Nouriel Roubini and Brad Setser1st ed.Washington, DC Institute for International Economics20041 online resource (442 p.)"A Council on Foreign Relations book."0-88132-371-3 Includes bibliographical references (p. 391-405) and index.Cover -- Contents -- Preface -- Acknowledgments -- Chapter 1 Introduction -- Why Crisis Resolution? -- Purging Unhelpful Myths -- Closing the Gap Between Rhetoric and Reality -- Agenda for Reform -- Structure of the Book -- Chapter 2 New Nature of Emerging-Market Crises -- Sources of Vulnerability in Emerging-Market Crises -- Interpreting Recent Crises -- Conclusions -- Chapter 3 Analytical Literature on Crisis Resolution -- Four Approaches to Crisis Resolution -- Crisis Resolution in IMF's Absence -- IMF, Crises of Creditor Coordination, and Moral Hazard -- Do Partial Bailouts Ever Work? -- Policy Implications and Suggestions for Further Research -- Chapter 4 Experience with Bailouts and Bail-ins -- Experience with Official Financing -- Experience with Bail-in Policies: Rollover Arrangements and Debt Exchanges -- Lessons for the Official Sector -- Lessons from Bond Restructurings -- Lessons from Restructuring of Bank Claims -- Conclusions -- Chapter 5 Official Policy Toward Crisis Resolution -- Reaction to Mexico's Bailout -- Reform of the International Financial Architecture -- The Debate Fractures -- A New Administration, a New Policy? -- Conclusions -- Chapter 6 Responding to Liquidity Shortages -- When Is Official Liquidity Support Warranted? -- Are Targeted Debt Reschedulings Inequitable? -- Risks of Gradual Escalation -- Case for Pragmatism -- Private-Sector Financial Difficulties -- Alternative Approaches to Liquidity Crises -- What Is the Right Policy? -- Chapter 7 Seniority of Sovereign Debts -- Relative Treatment of Different Sovereign Claims -- Domestic Versus External Debt -- Arguments in Favor of a Formal Debt Seniority Regime -- Conclusion -- Chapter 8 Legal Reform -- Potential Obstacles to Sovereign Debt Restructuring -- Approaches to Legal Reform -- Codes and Committees -- Assessing Reform Proposals -- Conclusion.Chapter 9 Recommendations for Reform -- "Hardware" Largely in Place -- Problems with Crisis Resolution "Software" -- Moving from Problems to Solutions -- Conclusion -- Appendix A Tables -- References -- Glossary -- Index.Loans, ForeignDeveloping countriesFinancial crisesDeveloping countriesInternational financeDebtDeveloping countriesLoans, ForeignFinancial crisesInternational finance.Debt338.5/43Roubini Nouriel126323Setser Brad1677912MiAaPQMiAaPQMiAaPQBOOK9910810618203321Bailouts or bail-ins4045186UNINA