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.

Financial Instability and the International Debt Problem

Stephen, Thomas

George W. McKenzie

PALGRAVE~MACMILLAN

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Books by George W. McKenzie

See the best price to sell, buy, or rent books by George W. McKenzie. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Financial Instability and the International Debt Problem