The Resource Capital controls and the resolution of failed cross-border banks : the case of Iceland, Fridrik Mar Baldursson and Richard Portes, (electronic resource)

Capital controls and the resolution of failed cross-border banks : the case of Iceland, Fridrik Mar Baldursson and Richard Portes, (electronic resource)

Label
Capital controls and the resolution of failed cross-border banks : the case of Iceland
Title
Capital controls and the resolution of failed cross-border banks
Title remainder
the case of Iceland
Statement of responsibility
Fridrik Mar Baldursson and Richard Portes
Creator
Contributor
Author
Subject
Language
eng
Summary
We examine Iceland's capital controls, which were imposed in October 2008 in order to prevent massive capital flight and a complete collapse of the exchange rate. The controls have not been lifted yet, primarily because of the risk of outflows of domestic holdings of the failed cross-border Icelandic banks. A substantial restructuring of domestic holdings of foreign creditors of the old banks is required before capital controls can be lifted. We argue that even if the controls are damaging, the gains from lifting them are likely to be much lower than the costs associated with a potential currency crisis following a premature liberalisation of capital outflows. The case of Iceland illustrates the difficulty of resolving large cross-border banks situated in a small currency area
Member of
Cataloging source
GZM
http://library.link/vocab/creatorDate
1957-
http://library.link/vocab/creatorName
Friðrik Már Baldursson
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Portes, Richard
  • Centre for Economic Policy Research (Great Britain)
Series statement
  • Discussion paper series,
  • Financial economics
  • International macroeconomics
Series volume
no. 9706
http://library.link/vocab/subjectName
  • Financial crises
  • Capital movements
  • Banks and banking
  • Iceland
Label
Capital controls and the resolution of failed cross-border banks : the case of Iceland, Fridrik Mar Baldursson and Richard Portes, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
  • "October 2013."
  • "Submitted 17 October 2013."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17468383
Extent
1 online resource (22 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)861796732
Label
Capital controls and the resolution of failed cross-border banks : the case of Iceland, Fridrik Mar Baldursson and Richard Portes, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
  • "October 2013."
  • "Submitted 17 October 2013."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17468383
Extent
1 online resource (22 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)861796732

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