10. Financial innovation has caused

5. The economic hardship resulting from a financial crises is severe, however, there are also social consequences such as

4. Argentinaʹs financial crisis was due to

3.In emerging market countries, many firms have debt denominated in foreign currency like the dollar or yen. A depreciation of the domestic currency

2.Factors likely to cause a financial crisis in emerging market countries include

1.In emerging market countries, the deterioration in bankʹs balance sheets has more ______ effects on lending and economic activity than in advanced countries.

10. When housing prices began to decline after their peak in 2006, many subprime borrowers found that their mortgages were ʺunderwater.ʺ This meant that

9. Credit market problems of adverse selection and moral hazard increased as a result of all of the following except

8. Agency problems in the subprime mortgage market included all of the following except

7. The growth of the subprime mortgage market led to

6. _______ is a process of bundling together smaller loans ( ) into standard debt securities.