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" In the 1994 Brookings Panel Session on Mexico, Stanley Fischer supported the view that large current account deficits are dangerous. He argued that: The Mexican current account deficit is huge, and it is being financed largely by portfolio investment.... "
IMF Staff Papers, Volume 51, Special Issue, IMF Fourth Annual Research ... - Page 5
by Mr.Ashoka Mody, Mr.Robert P. Flood - 2004 - 168 pages
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Financial Markets and Development: The Crisis in Emerging Markets

Alison Harwood, Robert E. Litan, Michael Pomerleano - 2010 - 430 pages
...Stanley Fischer supported the view that large current account deficits are dangerous. He argued that: The Mexican current account deficit is huge, and it...enough to prevent an outflow and a forced devaluation. 2S The issue, of course, is that current account deficits are financed by the sale of domestic securities...
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Preventing Currency Crises in Emerging Markets

Sebastian Edwards, Jeffrey A. Frankel - 2009 - 720 pages
...agreed with this position. In the 1994 Brookings Panel session on Mexico, Stanley Fischer argued that [t]he Mexican current account deficit is huge, and...enough to prevent an outflow and a forced devaluation. (1994,306) The World Bank staff expressed concern about the widening current account deficit. In Trends...
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