Borrowing Credibility

Nations with credible monetary regimes borrow at lower interest rates and are less likely to suffer speculative attacks and currency crises. While scholars typically attribute credibility to domestic institutions or international agreements, Jana Grittersová argues that when reputable multinational banks open branches within a nation, they enhance that nation's monetary credibility.

Natiunile cu regimuri monetare credibile imprumuta la rate mai mici ale dobanzii pe pietele internationale si sunt mai putin susceptibile de a suferi atacuri speculative si crize valutare. In timp ce savantii atribuie credibilitate institutiilor interne sau acordurilor internationale, Jana Grittersová sustine ca atunci cand bancile multinationale de renume cu sediul in Europa de Vest sau America de Nord deschid sucursale si filiale intr-o natiune, acestea sporesc credibilitatea monetara a natiunii.