Globalizing Capital

EICHENGREEN. (2008). Globalizing Capital. Princeton University Press.

Type

Book chapter

Intellectual base

Review or monograph

Year

2008

DOI

10.2307/j.ctt7pfmc

Link

https://doi.org/10.2307/j.ctt7pfmc

Cited by

1 citation across 1 artifact.

Domain-specific

• Impossible Trinity
  • If a country maintains a fixed peg and tries to hold domestic interest rates below world rates, investors borrow domestically and invest abroad, selling domestic currency until the peg breaks or reserves are exhausted — the 1992 UK ERM crisis, the 1994 Mexican peso crisis, the 1997 Asian crisis, and the 2001 Argentine currency-board collapse all follow this structure

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