Benmelech, Efraim; Dvir, Eyal - In: Journal of International Economics 89 (2013) 2, pp. 485-494
Does short-term debt increase vulnerability to financial crisis, or does short-term debt reflect – rather than cause – the incipient crisis? We study the role that short-term debt played in the collapse of the East Asian financial sector in 1997–1998. We alleviate concerns about the...
