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Comparison between Asian, Russian and Turkish financial crises

Lukkarila, Johanna - EconWPA - 2004

, ie third generation theories, for the crisis episodes in Asia. It also compares the theories and Asian events to …

Persistent link: https://www.econbiz.de/10005556609

Argentina: Trying to Make Sense of the Financial Tango

Buchs, Thierry - EconWPA - 2005

The paper discusses and revisits some of the most popular stories behind the 2001 financial crisis in Argentina, i.e. the prolonged overvaluation of the peso owing to the Currency Board arrangement, the lack of fiscal adjustment, and the negative external environment which triggered a “sudden...

Persistent link: https://www.econbiz.de/10005076729

User's Guide to an Early Warning System for Macroeconomic Vulnerability in Latin American Countries

Herrera, Santiago; Garcia, Conrado A. - EconWPA - 2000

The object of this paper is to develop an Early Warning System of Macro Vulnerability for several Latin American countries based on previous work of Kaminsky, Lizondo and Reinhart (1997) and Kaminsky (1998). We build a composite leading indicator that signals macroeconomic vulnerability, showing...

Persistent link: https://www.econbiz.de/10005076817

TOWARDS A NEW SET OF LEADING INDICATORS OF CURRENCY CRISIS FOR DEVELOPING COUNTRIES: AN APPLICATION TO ARGENTINA

Marongiu, Federico - EconWPA - 2005

Currency and financial crises are determinants of growth and development, mainly in developing countries subject to shocks, contagion and volatility. A relevant issue when trying to do the implementation of development policies is to anticipate or forecast the occurrence of currency crises that...

Persistent link: https://www.econbiz.de/10005125867

Stabilisations, Crises and the "Exit" Problem - A Theoretical Model

Bleaney, Michael; Gundermann, Marco - EconWPA - 2002

Exchange-rate-based stabilisations, even if successful, usually lack credibility initially. This is reflected in high (ex post) real interest rates and some degree of real exchange rate appreciation. Empirical observation suggests that wage inflation declines smoothly over time whilst interest...

Persistent link: https://www.econbiz.de/10005126376

SOURCES OF ASIAN CURRENCY CRISIS

Majid, Muhd-Zulkhibri Abdul - EconWPA - 2004

This study examines the sources of currency crises in ASEAN. The empirical findings indicate that reserve inadequacy, increase of bank’s claims on private sector, deteriorating trade balance and misalignment of real exchange rate increase the probability of a speculative attack on a currency....

Persistent link: https://www.econbiz.de/10005408141

The Role of Information Disparity in the 1994/95 Mexican Peso

Bannier, Christina - EconWPA - 2003

In the Mexican Peso crisis 1994/95, the lack of readily available information, particularly regarding monetary aggregates, has often been commented on. This paper analyzes empirically whether information disparity with respect to economic fundamentals contributed to the crisis. Using historical...

Persistent link: https://www.econbiz.de/10005408154

A Crise Financeira Russa

Pinto, Bruno José Marques; Vilela, Thais Machado de Matos - EconWPA - 2005

Fundamental sources of the Russian financial crisis in 1998 are discussed. Focus is made on the time horizon of judgements concerning sustainability of the economic policy. It is argued that the macroeconomic policy pursued by the monetary authorities was not robust in a medium run, but, in the...

Persistent link: https://www.econbiz.de/10005412647

Instrument Choice and the Returns to Education: New Evidence from Vietnam

Arcand, Jean-Louis; d'Hombres, Béatrice; Gyselinck, Paul - EconWPA - 2005

This paper focuses on instrument choice while consistently estimating the returns to education in Vietnam. Using data … culled from the 2 rounds of the Vietnam Living Standards Survey (VLSS), we explore different sets of exogenous instruments …

Persistent link: https://www.econbiz.de/10005076522

Governance Institutions and Incentive Structures in Vietnam

McCarty, Adam - EconWPA - 2001

Challenges and Government Reforms in South East Asia conference in Jakarta. The workshop was chaotic and fascinating. The vague … paper then surveys the particular governance challenge in Vietnam as it continues its transition from central planning to … markets. The nature and characteristics of the present administrative structure in Vietnam are then surveyed, followed by a …

Persistent link: https://www.econbiz.de/10005125943