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