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The paper models foreign capital inflow in a multi-period framework from the developed to the developing countries. The market for foreign loan together with the foreign exchange market simultaneously determines interest rate in the international loan market and the exchange rate. We also derive...
Persistent link: https://www.econbiz.de/10013004405
The paper explains origin of financial crisis in one country and its spread to other countries - contagion, in a multi country dynamic model of international capital inflow. The origin of crisis is rooted in this model in the common international loan market; thus crisis can occur even when the...
Persistent link: https://www.econbiz.de/10012860636
Persistent link: https://www.econbiz.de/10003478840