{"id":"https://openalex.org/W1556865035","doi":"https://doi.org/10.3386/w17361","title":"International Financial Crises and the Multilateral Response: What the Historical Record Shows","display_name":"International Financial Crises and the Multilateral Response: What the Historical Record Shows","publication_year":2011,"publication_date":"2011-08-01","ids":{"openalex":"https://openalex.org/W1556865035","doi":"https://doi.org/10.3386/w17361","mag":"1556865035"},"language":"en","primary_location":{"id":"doi:10.3386/w17361","doi":"https://doi.org/10.3386/w17361","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w17361","pdf_url":"https://doi.org/10.3386/w17361","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","is_traditional":false,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w17361","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5066771436","display_name":"Bergljot Bj\u00f8rnson Barkbu","orcid":"https://orcid.org/0000-0003-2940-6410","observed_orcids":["https://orcid.org/0000-0003-2940-6410"]},"institutions":[{"id":"https://openalex.org/I1310145890","display_name":"International Monetary Fund","ror":"https://ror.org/05m4rmw09","country_code":"US","type":"other","lineage":["https://openalex.org/I1310145890"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Bergljot Barkbu","raw_affiliation_strings":["Argentina","International Monetary Fund (IMF)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Argentina","institution_ids":[]},{"raw_affiliation_string":"International Monetary Fund (IMF)","institution_ids":["https://openalex.org/I1310145890"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5043537207","display_name":"Barry J. Eichengreen","orcid":"https://orcid.org/0000-0002-1683-4486","observed_orcids":["https://orcid.org/0000-0002-1683-4486","https://orcid.org/0000-0002-3414-2934"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I4210140326","display_name":"Centre for Economic Policy Research","ror":"https://ror.org/04jzmdh37","country_code":"GB","type":"nonprofit","lineage":["https://openalex.org/I4210140326"]},{"id":"https://openalex.org/I95457486","display_name":"University of California, Berkeley","ror":"https://ror.org/01an7q238","country_code":"US","type":"education","lineage":["https://openalex.org/I95457486"]}],"countries":["GB","US"],"is_corresponding":false,"raw_author_name":"Barry Eichengreen","raw_affiliation_strings":["Centre for Economic Policy Research (CEPR)","National Bureau of Economic Research (NBER)","University of California, Berkeley"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Centre for Economic Policy Research (CEPR)","institution_ids":["https://openalex.org/I4210140326"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"University of California, Berkeley","institution_ids":["https://openalex.org/I95457486"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5112172618","display_name":"Ashoka Mody","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1310145890","display_name":"International Monetary Fund","ror":"https://ror.org/05m4rmw09","country_code":"US","type":"other","lineage":["https://openalex.org/I1310145890"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ashoka Mody","raw_affiliation_strings":["International Monetary Fund (IMF) - Research Department"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"International Monetary Fund (IMF) - Research Department","institution_ids":["https://openalex.org/I1310145890"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":22,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13074","display_name":"Global Financial Regulation and Crises","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14112","display_name":"Economic, financial, and policy analysis","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/international-financial-crisis","display_name":"international financial crisis","score":0.9660000205039978},{"id":"https://openalex.org/keywords/emergency-lending","display_name":"emergency lending","score":0.7699999809265137},{"id":"https://openalex.org/keywords/debt-restructuring","display_name":"debt restructuring","score":0.8740000128746033},{"id":"https://openalex.org/keywords/public-debt","display_name":"public debt","score":0.7509999871253967},{"id":"https://openalex.org/keywords/collective-action-clauses","display_name":"collective action clauses","score":0.9089999794960022},{"id":"https://openalex.org/keywords/debt-sustainability","display_name":"debt sustainability","score":0.5870000123977661},{"id":"https://openalex.org/keywords/financial-instability","display_name":"financial instability","score":0.48899999260902405}],"concepts":[{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.42098426818847656},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.40699225664138794},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.4055287539958954},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.38665422797203064},{"id":"https://openalex.org/C155202549","wikidata":"https://www.wikidata.org/wiki/Q178803","display_name":"International trade","level":1,"score":0.3289351761341095}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.3386/w17361","doi":"https://doi.org/10.3386/w17361","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w17361","pdf_url":"https://doi.org/10.3386/w17361","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},{"id":"pmh:oai:RePEc:nbr:nberwo:17361","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w17361.pdf","pdf_url":"http://www.nber.org/papers/w17361.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.230.2815","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.230.2815","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.nber.org/%7Econfer/2011/GFC11/Barkbu_Eichengreen_Mody.pdf","raw_type":"text"},{"id":"mag:1556865035","doi":null,"is_oa":true,"landing_page_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=1918690","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3147120329","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:nbr:nberwo:17361","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":{"id":"doi:10.3386/w17361","doi":"https://doi.org/10.3386/w17361","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w17361","pdf_url":"https://doi.org/10.3386/w17361","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals","score":0.5217000246047974}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1556865035.pdf","grobid_xml":"https://content.openalex.org/works/W1556865035.grobid-xml"},"referenced_works_count":60,"referenced_works":["https://openalex.org/W17014916","https://openalex.org/W55667584","https://openalex.org/W167492382","https://openalex.org/W350054928","https://openalex.org/W404418593","https://openalex.org/W586056674","https://openalex.org/W604394249","https://openalex.org/W1483469024","https://openalex.org/W1493686582","https://openalex.org/W1528857264","https://openalex.org/W1547714805","https://openalex.org/W1562330858","https://openalex.org/W1579234039","https://openalex.org/W1579544842","https://openalex.org/W1592387970","https://openalex.org/W1594723613","https://openalex.org/W1782122337","https://openalex.org/W1967511091","https://openalex.org/W1968931768","https://openalex.org/W1975860048","https://openalex.org/W1977433353","https://openalex.org/W2015194666","https://openalex.org/W2020046435","https://openalex.org/W2039221588","https://openalex.org/W2068537249","https://openalex.org/W2082797645","https://openalex.org/W2088754816","https://openalex.org/W2103229558","https://openalex.org/W2104456410","https://openalex.org/W2106516414","https://openalex.org/W2114553697","https://openalex.org/W2163897748","https://openalex.org/W2260053493","https://openalex.org/W2463523730","https://openalex.org/W2489492276","https://openalex.org/W2765449214","https://openalex.org/W2802212075","https://openalex.org/W2955307009","https://openalex.org/W3021786867","https://openalex.org/W3098147408","https://openalex.org/W3121785597","https://openalex.org/W3123216366","https://openalex.org/W3123892045","https://openalex.org/W3124063771","https://openalex.org/W3125766261","https://openalex.org/W3146760397","https://openalex.org/W3208660510","https://openalex.org/W4205327471","https://openalex.org/W4231004750","https://openalex.org/W4253419998","https://openalex.org/W4256170135","https://openalex.org/W4285719527","https://openalex.org/W4294810688","https://openalex.org/W4296869304","https://openalex.org/W4297832929","https://openalex.org/W4298505447","https://openalex.org/W4300763157","https://openalex.org/W6642317570","https://openalex.org/W6677143269","https://openalex.org/W7057291139"],"related_works":["https://openalex.org/W1511975484","https://openalex.org/W1583374103","https://openalex.org/W3123560599","https://openalex.org/W1964033750","https://openalex.org/W27859148","https://openalex.org/W2913054863","https://openalex.org/W1251720936","https://openalex.org/W1526905656","https://openalex.org/W4253978488","https://openalex.org/W4308632440"],"abstract_inverted_index":{"We":[0],"review":[1],"the":[2,14,27,40,67,85,93,107],"modern":[3],"history":[4],"of":[5,13,18,23,35,69,76,95,109],"financial":[6,19],"crises,":[7],"providing":[8],"a":[9,32,73],"context":[10],"for":[11],"analyses":[12],"world's":[15],"recent":[16],"bout":[17],"instability.Along":[20],"with":[21],"indicators":[22],"economic":[24],"performance":[25],"in":[26,106],"subject":[28],"countries,":[29],"we":[30,91],"present":[31],"comprehensive":[33],"description":[34],"multilateral":[36],"rescue":[37],"efforts":[38],"spanning":[39],"last":[41],"30":[42],"years.We":[43],"show":[44],"that":[45,101],"while":[46],"emergency":[47,77],"lending":[48,78],"has":[49,55],"grown,":[50],"reliance":[51],"on":[52,84,87],"debt":[53,70,99],"restructuring":[54],"declined.This":[56],"leads":[57],"us":[58],"to":[59,65],"ask":[60],"what":[61],"can":[62],"be":[63],"done":[64],"rebalance":[66],"management":[68],"problems":[71],"toward":[72],"better":[74],"mix":[75],"and":[79],"private":[80],"sector":[81],"burden":[82],"sharing.Building":[83],"literature":[86],"collective":[88],"action":[89],"clauses,":[90],"explore":[92],"idea":[94],"sovereign":[96],"cocos,":[97],"contingent":[98],"securities":[100],"automatically":[102],"reduce":[103],"payment":[104],"obligations":[105],"event":[108],"debt-sustainability":[110],"problems.":[111]},"counts_by_year":[{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":8},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}