Financial crises and balance of payments crises
从国内银行部门模型出发，分析其在外资流入中介中的角色可能引发的宏观经济不稳定，导致金融和国际收支危机，类似南锥体经历。
This paper starts from a simple model of the domestic banking sector and develops the potentially destabilizing macroeconomic consequences of its role in intermediating foreign capital inflows. Both financial and balance of payments crises may result, reminiscent of the Southern Cone experience.