Selected Older Press Article Citations, Testimony, Interviews, and Miscellaneous
Special report: Argentina's debt Restructuring, A victory by default? The Economist, March 5, 2005.
"Default" write Carmen Reinhart, Kenneth Rogoff, and Miguel Savastano..."can become a way of life."
Presentation before InterAmerican Development Bank Board of Directors, Debt Intolerance, June 2, 2004
This Time It's Not Different. Article from Newsweek International, February 16, 2004
Well, as University of Maryland professor Carmen Reinhart has quipped, "this time is different" has oft proved the four most expensive words in the English
Comment & Analysis: The new face of the IMF: what could Rodrigo Rato do to reshape its role as guardian of the global economy?,
The Financial Times, Andrew Balls, April 21, 2004.
Literary economics-a short, handy history and "promiscuous bonding" Financial Times, John Plender, July 14, 2003.
Carmen Reinhart alerts me to another timely quote--from Max Winkler in 1927....While a high yield on a foreign bond does not necessarily indicate inferior quality... Promiscuous buying, however, is destined to prove disastrous. (PS The emerging market defaults began in earnest in 1928)
Global outlook: Countries with a "fear of floating," Financial Times, Alan Beatie, January 8, 2002
Who Under in the World's Sea of Cash? The New York Times, Nicholas Kristof with Edward Wyatt, February 15, 1999.
Rating agencies warn too late and since 1979...they react after crises instead of anticipating them.
Capital curbs should only be temporary, say economists, The Straits Times (Singapore), William Choong, Septemebr 6, 1998.
A Gathering Economic Storm? Washington Post, Robert J. Samuelson, November 19, 1997. "What were seeing today is the tail end of the capital flow cycle," says economist Carmen Reinhart...
Asia Woes Revive Fears of Capital Flight: Nations, Economists Debate Controls to Stem Outflows, The Wall Street Journal, Michael Phillips, November 7, 1997.
(controls on capital inflows)...Carmen Reinhart says...can shift the composition, but have not had a significant impact on the overall volume of inflows that you get..."
There may be trouble ahead--It is not easy to predict when and where currency crises will strike, The Financial Times, Robert Chote, August 4, 1997.
And now for a taste of the "Tom" "Yum", The Economic Times (India), August 3, 1997.
The more stunning statistics come from a study by Kaminsky and Reinhart....in 18 of 25 bank crises, the financial system was liberalized in the five years preceding the crisis...The implication being that lack of regulatory mechanism for banks was the trigger for banking crises.
¿Sintomas de crisis financiera? El Tiempo (Colombia), June 26, 1997.
The recession following the boom in credit and consumption, the fall in real estate prices, the overvaluation of the exchange rate,and the overindebtedness of most Colombians could mean trouble. Reinhart. (PS, the summer of 1998 was the worst recession and crisis since the publication of statistics in the early 1920s.)
The cost of the crisis reaches 3 million pesos, El Financiero, (Mexico), October 18, 1996.
Tardara el pais 5 años para sanear su sistema financiero: Reinhart
Economic Focus: In Pursuit of thrift, does liberalising financial markets boost saving in poor countries? The Economist, March 15, 1996.
Capital Inflows Surge to Latin America, Journal of Commerce and Miami Herald, September 24, 1992.
El trabajo elaborado por el argentino Guillermo Calvo y la cubana-norteamericana Carmen Reinhart, del Departamento de Investigaciones del FMI...
Latin America at Risk of Capital Flight; Capital Inflows Owe to "Foreign Factors," Rossana Fuentes-Berain, El Financiero (Mexico), Septemeber 3, 1992.
Economic Diary: Consumer Debt Really Isn't So Staggering, BusinessWeek, October 21, 1985.
Economic Diary: The Achilles' Heel in Private Credit Growth, BusinessWeek, December 3, 1984. On the credit boom...One possible explanation hazarded by economists Robert M. Sinche and Carmen M. Reinhart of Bear Stearns & Co. is that borrowers have been undaunted by the apparently forbidding level of real rates because they expect a pick up in inflation to erode those rates in the not-too-distant future.
Oil Price Drop: Blue-Collar Boom, Philadelphia Inquirer, May 4, 1986.
The farther down the economic ladder, the bigger the relative boost from cheaper oil products, adds Carmen M. Reinhart of the Wall Street firm of Bear Stearns...
Most Interest Rates Are Little Changed Despite a Flood of New Corporate Issues, The Wall Street Journal, Tom Herman and Edward Foldessy, February 26, 1986.
"Oil is a symbol of inflation, and inflationary expectations are eroding right along with oil prices, " said Carmen M. Reinhart, chief economist of Bear, Stearns & Co. "It will take a little time for lower oil prices to show up in the consumer price index."