Jump to ContentJump to Main Navigation
Private Sector Involvement and International Financial CrisesAn Analytical Perspective$
Users without a subscription are not able to see the full content.

Michael Chui and Prasanna Gai

Print publication date: 2005

Print ISBN-13: 9780199267750

Published to Oxford Scholarship Online: July 2005

DOI: 10.1093/0199267758.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 October 2020

Reconciling the Two Views

Reconciling the Two Views

(p.47) 5 Reconciling the Two Views
Private Sector Involvement and International Financial Crises

Michael Chui

Prasanna Gai (Contributor Webpage)

Oxford University Press

Articulates the basics of global games. Applies the global game arguments of Morris and Shin (1998, 2000) to sovereign liquidity crises and shows how the fundamental and sunspot views of crisis can be reconciled. Highlights the welfare costs of coordination failure and explores how policy options such as sovereign debt standstills, liquidity management, and capital controls may help mitigate these costs.

Keywords:   capital controls, coordination failure, global games, liquidity management, sovereign debt standstill, sovereign liquidity crises, sunspot view of crisis

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .