Market discipline and exuberant foreign borrowing

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dc.contributor.authorFernández-Arias, Eduardo
dc.contributor.authorLombardo, Davide
dc.date.accessioned2019-11-01T00:01:37Z
dc.date.available2019-11-01T00:01:37Z
dc.date.issued2002
dc.descriptionThe debt crisis of the 1980s confirmed what most economists already knew well: the public sector cannot be trusted to make the rigth choices on behalf of society, especially in matters-such as foreign borrowing- whose ultimate costs may not be fully internalized by voters. The failure of the public sector suggested market discipline as the solution for the efficient channeling of foreign savings into capital-scare developing countries, to be implemented through the liberalization of the capital account and fiscal restraint.
dc.file.nameBCCh-sbc-v03-p333_360
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 333-360
dc.identifier.isbn956-7421-072
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3646
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSerieson Central Banking, Analysis, and Economic Policies, no. 3
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectCRISIS ECONÓMICA 1980es_ES
dc.subjectPRÉSTAMOS INTERNACIONALESes_ES
dc.titleMarket discipline and exuberant foreign borrowing
dc.type.docArtículo

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