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Lending Booms, Reserves, and the Sustainability of Short-Term Debt : Inferences from the Pricing of Syndicated Bank Loans

Eichengreen, Barry - 1999

This paper analyzes the determinants of spreads on syndicated bank lending to emerging markets, treating the loan-extension and pricing decisions as jointly determined. Compared to the bond market, our findings highlight the role of international banks in providing credit to smaller borrowers...

Persistent link: https://www.econbiz.de/10012471681

Resolving Debt Crises : An Historical Perspective

Eichengreen, Barry - 1988

Two general approaches have been offered for dealing with the developing country debt crisis: continued reliance on case-by-case negotiation, versus global plans for fundamentally restructuring the terms of international lending and repayment. Both approaches have precedents in earlier...

Persistent link: https://www.econbiz.de/10012476512

The Anatomy of Financial Crises

Eichengreen, Barry - 1987

A financial crisis is a disturbance to financial markets. associated typically with falling asset prices and insolvency among debtors and intermediaries, which spreads through the financial system, disrupting the marketâ€™s capacity to allocate capital. In this paper we analyze the...

Persistent link: https://www.econbiz.de/10012476943

How the Subprime Crisis Went Global : Evidence from Bank Credit Default Swap Spreads

Eichengreen, Barry - 2009

How did the Subprime Crisis, a problem in a small corner of U.S. financial markets, affect the entire global banking system? To shed light on this question we use principal components analysis to identify common factors in the movement of banks' credit default swap spreads. We find that fortunes...

Persistent link: https://www.econbiz.de/10012463744

Currency Mismatches, Debt Intolerance and Original Sin : Why They Are Not the Same and Why it Matters

Eichengreen, Barry - 2003

Recent years have seen the development of a large literature on balance sheet factors in emerging-market financial crises. In this paper we discuss three concepts widely used in this literature. Two of them original sin' and debt intolerance' seek to explain the same phenomenon, namely, the...

Persistent link: https://www.econbiz.de/10012468660

Crises Now and Then : What Lessons from the Last Era of Financial Globalization

Eichengreen, Barry - 2002

international monetary framework was responsible for the relatively short-lived and mild nature of pre-World War I financial crises …

Persistent link: https://www.econbiz.de/10012469999

International Financial Crises and the Multilateral Response : What the Historical Record Shows

Barkbu, Bergljot - 2011

We review the modern history of financial crises, providing a context for analyses of the world's recent bout of …

Persistent link: https://www.econbiz.de/10012461297

Cultural Stereotypes of Multinational Banks

Eichengreen, Barry; Saka, Orkun - National Bureau of Economic Research - 2022

Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the trust of residents of a bank's countries of operation in the residents of a potential target country of investment has a positive, statistically significant, and economically...

Persistent link: https://www.econbiz.de/10013477202

The Marshall Plan : History's Most Successful Structural Adjustment Program

De Long, J. Bradford - 1991

The post-World War II reconstruction of Western Europe was one of the greatest economic policy and foreign policy … role in setting the stage for post-World War II Western Europe's rapid growth. The conditions attached to Marshall Plan aid … that transferred some $13 billion to Europe in the years 1948-51. We examine the economic effects of the Marshall Plan, and …

Persistent link: https://www.econbiz.de/10012475088

Relaxing the External Constraint : Europe in the 1930s

Eichengreen, Barry - 1990

This paper documents the effects of exchange rates and the external constraint during the interwar years. In the absence of international policy coordination, exchange rate depreciation is shown to have been a necessary precondition for the adoption of policies promoting recovery from the Great...

Persistent link: https://www.econbiz.de/10012475621