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How to Strengthen the International Financial System by Restructuring Sovereign Balance Sheets

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Author Info

  • Ross P. Buckley

    (Tim Fischer Centre for Global Trade & Finance, Faculty of Law, Bond University)

  • Peter Dirou

    (Treasury Advisor, Ministry of Finance)

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    Abstract

    The inability of developing nations to borrow in their own currency leads to currency mismatches on their national balance sheets. These mismatches render these economies vulnerable to external shocks and are a major source of damaging volatility for the entire international financial system. This article argues why these mismatches need to be remedied, and how the multilateral development banks and the Paris Club can take the lead in doing so.

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    File URL: http://www.aeconf.net/Articles/Nov2006/aef070203.pdf
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    File URL: http://down.aefweb.net/AefArticles/aef070203.pdf
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    Bibliographic Info

    Article provided by Society for AEF in its journal Annals of Economics and Finance.

    Volume (Year): 7 (2006)
    Issue (Month): 2 (November)
    Pages: 257-269

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    Handle: RePEc:cuf:journl:y:2006:v:7:i:2:p:257-269

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    Web page: http://www.aeconf.net/
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    Related research

    Keywords: International lending and debt problems; Sovereign balance sheet structure; Sovereign bond markets;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Morris Goldstein & Philip Turner, 2004. "Controlling Currency Mismatches in Emerging Markets," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 373.
    2. Blair Comley & David Turvey, 2005. "Debt Management in a Low Debt Environment: The Australian Government's Debt Management Framework," Treasury Working Papers 2005-02, Treasury, Australian Government, revised Feb 2005.
    3. Pettis, Michael, 2001. "The Volatility Machine: Emerging Economies and the Threat of Financial Collapse," OUP Catalogue, Oxford University Press, number 9780195143300, Octomber.
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    Cited by:
    1. Jamel Boukhatem, 2009. "Essai sur les déterminants empiriques de développement des marchés obligataires," EconomiX Working Papers 2009-32, University of Paris West - Nanterre la Défense, EconomiX.

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