Some theorists hold that short-term debt is an important factor that causes international financial crisis and the policy of restricting or banning the short-term capital by imposing taxes on its influx should be adopted to guard against the financial crisis. On the basis of dual agency analysis, it shows that short-term debt induces the government to adopt a more investor-friendly policy, which ensures the recovering of loans and improves the welfare of the borrowing company and its country. It further points out that the possibility of crisis stems from the exhaustion of the debt capacity rather than the short-term debt itself.
|Переведенное название||Rethinking the Relations between the Short-term Debt and International Financial Crisis: On the basis of dual agency analysis|
|Язык оригинала||Chinese (Simplified)|
|Состояние||Published - 2004|