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Author : James M. Sheehan
Publisher :
ISBN 13 :
Total Pages : 1 pages
Book Rating : 4.:/5 (42 download)
Download or read book Lessons from the Mexico Crisis written by James M. Sheehan and published by . This book was released on 1995 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nancy Birdsall
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Lessons from the Mexico Crisis written by Nancy Birdsall and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: First, the paper discusses salient aspects of the Mexican reforms and its 1989-1994 recovery, making no attempt to be comprehensive but instead focusing on developments of direct relevance for the argument. Next, it discusses three important features of the crisis and renewed recovery: Recovery was rapid, the domestic financial system was pivotal, and fiscal policy was contractionary. The paper evaluates four reasons that are often given for the causes of the Mexican crisis: a faulty exchange-rate policy; low domestic saving; large current account deficits; and the issuance, mainly during 1994, of the tesobonos. Three alternative lessons of the crisis are presented.
Author : Eliana Cardoso
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (546 download)
Download or read book Lessons from the Mexican Crisis for Reforming Economies /cEliana Cardoso written by Eliana Cardoso and published by . This book was released on 1996 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John C. Whitehead
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book Lessons of the Mexican Peso Crisis written by John C. Whitehead and published by . This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephany Griffith-Jones
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)
Download or read book Causes and Lessons of the Mexican Peso Crisis written by Stephany Griffith-Jones and published by . This book was released on 1997 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Rudy
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book The Mexican Peso Crisis written by Robert Rudy and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Tapia Quintana
Publisher :
ISBN 13 : 9781637236031
Total Pages : pages
Book Rating : 4.2/5 (36 download)
Download or read book Navigating in a Crisis: Lessons for Mexico in the COVID-19 Context written by Daniel Tapia Quintana and published by . This book was released on 2021-08-04 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David D. Hale
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (122 download)
Download or read book Lessons for the Mexican Peso Crisis of 1995 for International Economic Policy written by David D. Hale and published by . This book was released on 1995 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (318 download)
Download or read book On Crisis Prevention written by Sebastian Edwards and published by . This book was released on 1999 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comparative analysis of the East Asian and Mexican crises, and draws lessons for the emerging economies. Although much of the discussion concentrates on East Asia and Mexico, I also draw on the history of some previous crisis episodes. I argue that in spite of the efforts to understand the anatomy of currency crises, there are still a large number of controversial and unresolved issues. More to the point, I argue that some of the lessons extracted from these crises are based on a misreading of the historical record. As a result, some of the policy implications that have emerged from this debate are, to say the least, questionable. In particular, I make two points: First, I argue that, in general, current account ratios have limited usefulness in determining a country's financial health. Although I fall short of taking the position that the current account is completely irrelevant, I do argue that a rigid interpretation of current account ratios may be highly misleading. Second, I argue that the rapidly growing popularity of controls on capital inflows as a device for reducing external vulnerability is rooted in a misreading of the recent history of external crises.
Author : Anne O. Krueger
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (463 download)
Download or read book Recovering from Crises written by Anne O. Krueger and published by . This book was released on 1998 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bettina De Souza Guilherme
Publisher : Springer Nature
ISBN 13 : 3030548953
Total Pages : 372 pages
Book Rating : 4.0/5 (35 download)
Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.
Author : Alfredo Coutino
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book The Mexican Financial Crisis of December 1994 and Lessons to Be Learned written by Alfredo Coutino and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: When the Mexican financial crisis occurred in December, 1994, there was little information with which to analyze the prospects, but there were many similarities between the adjustment that Mexico went through in connection with the debt crisis of 1982-83. The time paths of crucial variables in the two situations, 1994-95 and 1982-83, has been studied in order to gain some insight, allowing, of course, for special circumstances that were important on each occasion.We estimated export and import equations from monthly data, 1982-83, and used these equations, together with the rest of the CIEMEX model, to make extrapolations for the period after December, 1994.A main finding is that the earlier crisis required a two-year adjustment, but current circumstances lead the full model to extrapolate a milder contraction and faster (one year) recovery. These calculations have been useful in interpreting some of the non-econometric aspects of Mexico's adjustment after 1994, as well as some of the circumstances that precipitated the crisis in the first place.
Author : José Sidaoui
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)
Download or read book Lender of Last Resort written by José Sidaoui and published by . This book was released on 2014 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The note describes the process of contagion from the International Financial turmoil to domestic markets, the transmission mechanism through the FX market, and how the high volatility of the foreign exchange rate became a risk to financial stability. It explains the dependency of the Mexican financial system on the ability of markets to work without disruption. The main actions taken by policy makers to restore stability to the system are outlined and reviewed. The last section provides the author's assessment of the effectiveness of the different actions taken, the tools used and lessons learned.Full publication: "http://ssrn.com/abstract=2504682" target="_blank" Re-Thinking the Lender of Last Resort.
Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 1451929099
Total Pages : 36 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Mexican Peso Crisis written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1996-01-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.
Author : Timothy J. Kehoe
Publisher : U of Minnesota Press
ISBN 13 : 1452965846
Total Pages : 643 pages
Book Rating : 4.4/5 (529 download)
Download or read book A Monetary and Fiscal History of Latin America, 1960–2017 written by Timothy J. Kehoe and published by U of Minnesota Press. This book was released on 2022-01-11 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major, new, and comprehensive look at six decades of macroeconomic policies across the region What went wrong with the economic development of Latin America over the past half-century? Along with periods of poor economic performance, the region’s countries have been plagued by a wide variety of economic crises. This major new work brings together dozens of leading economists to explore the economic performance of the ten largest countries in South America and of Mexico. Together they advance the fundamental hypothesis that, despite different manifestations, these crises all have been the result of poorly designed or poorly implemented fiscal and monetary policies. Each country is treated in its own section of the book, with a lead chapter presenting a comprehensive database of the country’s fiscal, monetary, and economic data from 1960 to 2017. The chapters are drawn from one-day academic conferences—hosted in all but one case, in the focus country—with participants including noted economists and former leading policy makers. Cowritten with Nobel Prize winner Thomas J. Sargent, the editors’ introduction provides a conceptual framework for analyzing fiscal and monetary policy in countries around the world, particularly those less developed. A final chapter draws conclusions and suggests directions for further research. A vital resource for advanced undergraduate and graduate students of economics and for economic researchers and policy makers, A Monetary and Fiscal History of Latin America, 1960–2017 goes further than any book in stressing both the singularities and the similarities of the economic histories of Latin America’s largest countries. Contributors: Mark Aguiar, Princeton U; Fernando Alvarez, U of Chicago; Manuel Amador, U of Minnesota; Joao Ayres, Inter-American Development Bank; Saki Bigio, UCLA; Luigi Bocola, Stanford U; Francisco J. Buera, Washington U, St. Louis; Guillermo Calvo, Columbia U; Rodrigo Caputo, U of Santiago; Roberto Chang, Rutgers U; Carlos Javier Charotti, Central Bank of Paraguay; Simón Cueva, TNK Economics; Julián P. Díaz, Loyola U Chicago; Sebastian Edwards, UCLA; Carlos Esquivel, Rutgers U; Eduardo Fernández Arias, Peking U; Carlos Fernández Valdovinos (former Central Bank of Paraguay); Arturo José Galindo, Banco de la República, Colombia; Márcio Garcia, PUC-Rio; Felipe González Soley, U of Southampton; Diogo Guillen, PUC-Rio; Lars Peter Hansen, U of Chicago; Patrick Kehoe, Stanford U; Carlos Gustavo Machicado Salas, Bolivian Catholic U; Joaquín Marandino, U Torcuato Di Tella; Alberto Martin, U Pompeu Fabra; Cesar Martinelli, George Mason U; Felipe Meza, Instituto Tecnológico Autónomo de México; Pablo Andrés Neumeyer, U Torcuato Di Tella; Gabriel Oddone, U de la República; Daniel Osorio, Banco de la República; José Peres Cajías, U of Barcelona; David Perez-Reyna, U de los Andes; Fabrizio Perri, Minneapolis Fed; Andrew Powell, Inter-American Development Bank; Diego Restuccia, U of Toronto; Diego Saravia, U de los Andes; Thomas J. Sargent, New York U; José A. Scheinkman, Columbia U; Teresa Ter-Minassian (formerly IMF); Marco Vega, Pontificia U Católica del Perú; Carlos Végh, Johns Hopkins U; François R. Velde, Chicago Fed; Alejandro Werner, IMF.
Author : Jan Joost Teunissen
Publisher :
ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.3/5 ( download)
Download or read book Can Currency Crises be Prevented Or Better Managed? written by Jan Joost Teunissen and published by . This book was released on 1996 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Mexican Peso Crisis written by Sebastian Edwards and published by . This book was released on 1997 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Mexican crisis of 1994 raised, throughout the world, a number of questions about the sustainability -- and even the merits -- of the market oriented reform process in Latin America and other regions. Understanding the way events unfolded in Mexico during the early 1990s continues to be fundamentally important to assess the mechanics of currency crises. More importantly, perhaps, the eruption of the East Asian currency crises in the summer and fall of 1997 has raised the question of whether the lessons from Mexico have indeed been learned by policy makers, private sector analysts and international civil servants. More specifically, as a result of the recent events in South East Asia, many observers have argued that the international financial organizations -- the IMF and the World Bank -- and the governments of the advanced countries have failed to revamp the early warning system that was supposed to prevent a repetition of a Mexico-style crisis. This paper analyzes the causes behind the Mexican crisis, emphasizing the role of capital inflows, inflationary inertia and real exchange rate overvaluation. I also ask a number of questions regarding the predictability of the crisis: Should Wall Street analysts have known that things were getting out of hand? And if they did, why didn't they alert their clients? And, how much did officials at the US Treasury know about the depth of the Mexican problems? And, what was the role of the media? I conclude that although the US Treasury was fully aware of what was going on, most private sector analysts were unaware of the seriousness of the situation.
