Controlling currency mismatches in emerging economies /

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Bibliographic Details
Author / Creator:	Goldstein, Morris, 1944-
Imprint:	Washington, DC : Institute for International Economics, 2004.
Description:	xvi, 163 p. ; 23 cm.
Language:	English
Subject:	Foreign exchange rates -- Developing countries. Foreign exchange administration -- Developing countries. Monetary policy -- Developing countries. Foreign exchange administration. Foreign exchange rates. Monetary policy. Developing countries.
Format:	Print Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/5159073

Hidden Bibliographic Details
Other authors / contributors:	Turner, Philip.
ISBN:	0881323608
Notes:	Includes bibliographical references and index.

Table of Contents:

Preface
Acknowledgments
1. Introduction
Original Sin Hypothesis
Plan of the Book
2. Why Currency Mismatches Matter
3. Measuring Currency Mismatch: Beyond Original Sin
Original Sin: A Misleading Measure
Summary
4. Aggregate Effective Currency Mismatch
New Measure of Aggregate Effective Currency Mismatch
Modification of AECM
5. Coping with Potential Currency Mismatches
6. Role of National Macroeconomic Policies and Currency Regimes
Monetary Policy and Inflation
Currency Regime
Fiscal Policies
Debt and Reserve Management Policies
7. Role of Institutional Factors and Microeconomic Incentives
Bond Markets
Prudential Oversight of Financial Institutions
Regulation of Banks in Major Lending Centers
Regulation of Banks in Borrowing Countries
Aggregate Mismatches in the Banking System
Regulations of Other Financial Institutions
Rules for Nonfinancial Corporations?
8. International Solutions to Currency Mismatching?
9. Reducing Currency Mismatching: A Domestic Agenda
Summary
Appendix A. Measuring Mismatches: Some Cautionary Notes
Appendix B. Evolution of the Original Sin Hypothesis
References
Index
Tables
Table 2.1. Proxies for currency mismatches before the Asian crisis, 1995-99
Table 2.2. Borrowing by domestic banks from international banks, 1995-2002
Table 2.3. Domestic bank credit to the private sector
Table 3.1. Measures of original sin by country groupings, simple average
Table 3.2. Export openness, 1994-2002
Table 3.3. Bond market development, end-2001
Table 3.4. Foreign banks' consolidated claims, local and international, 1990-2003
Table 3.5. Emerging-market financing, all sectors, 1997-2001
Table 4.1. Australia: Foreign-currency exposure by financial sector, end-June 2001
Table 4.2. Thailand: Intersectoral asset and liability position, end-December 1996
Table 4.3. Net foreign-currency assets, 1994-2002
Table 4.4. Foreign-currency share of total debt, 1994-2002
Table 4.5. Original AECM estimates, 1994-2002
Table 4.6. Modified AECM estimates, 1994-2002
Table 4.7. Total debt as a percent of GDP, 1994-2002
Table 4.8. Original sin ratio in emerging economies
Table 5.1. Foreign exchange turnover
Table 5.2. Top 10 countries in bond trading volume, 2001
Table 5.3. Domestic debt securities outstanding, 1994-2002
Table 6.1. Type of domestic debt at issuance, end-2000
Table 6.2. Outstanding government debt by type, end-2001
Table 7.1. Guidelines or regulations for currency mismatches in banks

Controlling currency mismatches in emerging economies /

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