Crises And Liquidity - Evidence And Interpretation
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| Google books | books.google.com |
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| Originally published | 2001 |
| Authors | Enrica Detragiache |
| Mr. Antonio Spilimbergo | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2180329 |
About Crises And Liquidity - Evidence And Interpretation
In a large panel of countries, we find that less liquid countries are more likely to default on their external debt. Specifically, for given total external debt, the probability of a crisis increases with the proportion of short-term debt and debt service coming due and decreases with foreign exchange reserves. . . .