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This paper discusses the theoretical arguments in favor of and against economic globalization and, with a view to … ascertaining whether Latin America may be able to capture the globalization upside, examines the trends and salient features of … Latin America's globalization as compared with that of Southeast Asia. The paper focuses on trade and financial integration …
Persistent link: https://www.econbiz.de/10012973335
We study default in a multi-firm equilibrium setting with incomplete information. Defaults are modeled to be consistent with the firm's balance sheet and aggregation over firms. Market prices and quantities of risk are derived in closed form. If the number of firms increases, the market prices...
Persistent link: https://www.econbiz.de/10012853271
While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of...
Persistent link: https://www.econbiz.de/10012562517
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While a number of emerging market crises were characterized by widespread contagion during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past,...
Persistent link: https://www.econbiz.de/10014402607