Ghartey, Edward E. - In: Frontiers in Finance and Economics 6 (2009) 1, pp. 73-92
The Peso crisis is examined by using the exchange market pressure model (EMP) over the period 1971:1 - 1995:4. Different estimators are used to obtain robust results. Empirical findings indicate that an incrase in domestic credit, crisis dummy and inflation rates leads to outflows of foreign...