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Can Emerging Market Central Banks Bail Out Banks? A+L4848 Cautionary Tale From Latin America
Luis I. Jacome H.Tahsin Saadi SedikMr.Simon Townsend
出版International Monetary Fund, 2011-11-01
主題Business & Economics / Banks & BankingBusiness & Economics / Finance / Financial Risk ManagementBusiness & Economics / Money & Monetary Policy
ISBN146392397X9781463923976
URLhttp://books.google.com.hk/books?id=dJgYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts of money into the financial system without facing major short-run adverse macroeconomic repercussions. Using panel data techniques, the paper analyzes episodes of financial turmoil in 16 Latin America during 1995-2007. The results show that developing and emerging market countries should be cautious because injecting money on a large scale into the financial system may fuel further macroeconomic instability, increasing the chances of simultaneous currency crises.