Economies émergentes : l'incompatibilité entre changes flexibles et dettes en devises

Many developing countries consider the case for increasing the flexibility of their exchange rates, while they hold substantial corporate dollar debts. We argue that, in this context, a small risk of insolvency may bring about a much larger risk of illiquidity.

BESANCENOT, D. and VRANCEANU, R. (2006). Economies émergentes : l'incompatibilité entre changes flexibles et dettes en devises. Revue d'économie politique, pp. 556-574.

Keywords : #Anticipations-rationnelles, #Changes-flexibles, #Dette-en-dollars, #Economie-internationale, #Rational-Expectations, #Taux-de-change