Glick, Reuven; Rose, Andrew Kenan - 2021
Currency crises tend to be regional; they affect countries in geographic proximity. This suggests that patterns of … international trade are important in understanding how currency crises spread, above and beyond any macroeconomic phenomena. We … provide empirical support for this hypothesis. Using data for five different currency crises (in 1971, 1973, 1992, 1994, and …