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Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies
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Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies Paperback - 2004

by Nouriel Roubini; Brad Setser


From the publisher

Roughly once a year, the managing director of the International Monetary Fund, the US treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country's banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt.

First line

Roughly once a year-if recent history is any guide-the managing director of the International Monetary Fund (IMF), the US treasury secretary, and in some cases the finance ministers of other Group of Seven (G-7) countries get a phone call from the finance minister of a large emerging-market economy.

Details

  • Title Bailouts or Bail-Ins?: Responding to Financial Crises in Emerging Economies
  • Author Nouriel Roubini; Brad Setser
  • Binding Paperback
  • Edition International Ed
  • Pages 348
  • Volumes 1
  • Language ENG
  • Publisher Peterson Institute for International Economic, Dulles, Virginia, U.S.A.
  • Date 2004-04-30
  • Illustrated Yes
  • ISBN 9780881323719 / 0881323713
  • Weight 1.35 lbs (0.61 kg)
  • Dimensions 9.06 x 6.02 x 0.83 in (23.01 x 15.29 x 2.11 cm)
  • Library of Congress subjects International finance, Financial crises - Developing countries
  • Library of Congress Catalog Number 2003065582
  • Dewey Decimal Code 338.543

Media reviews

Citations

  • Choice, 03/01/2005, Page 1278

About the author

Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm. Brad Setser is an American economist and former blogger. A former staff economist at the United States Department of the Treasury, he worked at Roubini Global Economics Monitor, along with Nouriel Roubini. After leaving the RGE Monitor, Setser became a fellow at the Council of Foreign Relations, where (among other things) he was the author of the popular economics blog "Follow the Money" about global economic imbalances. In 2009, he took a position with the National Economic Council. In 2011, he moved to the United States Department of the Treasury, where he is the Deputy Assistant Secretary for International Economic Analysis.

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