Abstract
The authors focus on the need for an International Lender of Last Resort (ILLR). They see the main function of ILLR facilities as not being the protection of depositors but the maintenance of the capacity of the banking system to lend. In this way the debtor countries are assured of a steady, growing stream of flows. How will the ILLR help achieve that? ILLR will achieve that through better dissemination of information concerning lenders, by encouraging counter-cyclical flows and by obliging banks to diversify.
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© 1987 Zannis Res and Sima Motamen
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Phylatkis, K. (1987). Comment on ‘International Lenders of Last Resort: Are Changes Required?’. In: Res, Z., Motamen, S. (eds) International Debt and Central Banking in the 1980s. Studies in Banking and International Finance. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08329-9_13
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DOI: https://doi.org/10.1007/978-1-349-08329-9_13
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-08331-2
Online ISBN: 978-1-349-08329-9
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