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Comment

In: World Trade: Monetary Order and Latin America

Author

Listed:
  • Donald Lessard

Abstract

Roque Fernandez has provided an illuminating and provocative view of the causes of, and potential solutions to, financial crises, both internal and external, in less developed countries (LDCs). His key point, as I understand it, is that unless the value of the financial claims in an economy can and are allowed to adjust to changes in the (present) value of real assets, the system will explode. Although he makes his argument in the context of the bank failures experienced in Argentina during 1984, it is a much broader one that deserves greater recognition and deeper treatment in analyses of LDC finances.

Suggested Citation

  • Donald Lessard, 1990. "Comment," Palgrave Macmillan Books, in: Paolo Savona & George Sutija (ed.), World Trade: Monetary Order and Latin America, pages 146-148, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08812-6_10
    DOI: 10.1007/978-1-349-08812-6_10
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