Paper tigers?: A model of the Asian crisis

This paper develops an interpretation of the Asian meltdown focused on moral hazard as the common source of overinvestment, excessive external borrowing, and current account deficits. To the extent that foreign creditors are willing to lend to domestic agents against future bail-out revenue from the...

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Veröffentlicht in:	European economic review 1999-06, Vol.43 (7), p.1211-1236
Hauptverfasser:	Corsetti, Giancarlo, Pesenti, Paolo, Roubini, Nouriel
Format:	Artikel
Sprache:	eng
Schlagworte:	Asia Balance of payment crisis Balance of payments Borrowing Economic policy International lending Moral hazard Speculation Speculative attacks Stochastic models Studies
Online-Zugang:	Volltext
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