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Financial Market Contagion in the Asian Crisis
Goldfajn, Ilan - 2021
This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and … the Philippines. Cross-country correlations among currencies and sovereign spreads are found to increase significantly …
Persistent link: https://www.econbiz.de/10013212114
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Did Output Recover from the Asian Crisis?
Cerra, Valerie; Saxena, Sweta C. - 2005
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...
Persistent link: https://www.econbiz.de/10014073466
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The Big Split : Why Did Output Trajectories in the ASEAN-4 Diverge after the Global Financial Crisis?
Isnawangsih, Agnes - 2013
impact on more open economies (Malaysia and Thailand). Second, countercyclical fiscal stimulus in Indonesia and the … Philippines was larger and was sustained longer. Third, idiosyncratic factors pushed output up in Indonesia and down in Thailand …, however, was not uniform. Even in a relatively homogenous group of countries such as ASEAN-4 (Indonesia, Malaysia, the …
Persistent link: https://www.econbiz.de/10013072592
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Comparing the Performance of Logit and Probit Early Warning Systems for Currency Crises in Emerging Market Economies
Comelli, Fabio - 2014
We compare how logit (fixed effects) and probit early warning systems (EWS) predict in-sample and out-of-sample currency crises in emerging markets (EMs). We look at episodes of currency crises that took place in 29 EMs between January 1995 and December 2012. Stronger real GDP growth rates and...
Persistent link: https://www.econbiz.de/10013053955
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Financial Soundness Indicators and Banking Crises
Costa Navajas, Matias - 2014
The paper tests the effectiveness of financial soundness indicators (FSIs) as harbingers of banking crises, using multivariate logit models to see whether FSIs, broad macroeconomic indicators, and institutional indicators can indeed predict crisis occurrences. The analysis draws upon a data set...
Persistent link: https://www.econbiz.de/10013061184
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Financial Cycles – Early Warning Indicators of Banking Crises?
Chen, Sally; Svirydzenka, Katsiaryna - 2022
Can the upturns and downturns in financial variables serve as early warning indicators of banking crises? Using data from 59 advanced and emerging economies, we show that financial overheating can be detected in real time. Equity prices and output gap are the best leading indicators in advanced...
Persistent link: https://www.econbiz.de/10013305628
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Systemic Banking Crises Database : An Update
Laeven, Luc - 2012
We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of...
Persistent link: https://www.econbiz.de/10013098639
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Financial Crises Explanations, Types, and Implications
Claessens, Stijn - 2013
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...
Persistent link: https://www.econbiz.de/10013086317
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Systemic Banking Crises Revisited
Laeven, Luc - 2018
This paper updates the database on systemic banking crises presented in Laeven and Valencia (2008, 2013). Drawing on 151 systemic banking crises episodes around the globe during 1970-2017, the database includes information on crisis dates, policy responses to resolve banking crises, and the...
Persistent link: https://www.econbiz.de/10012909413
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Taming Financial Development to Reduce Crises
Ben Naceur, Sami - 2019
. Through estimation of a dynamic logit panel model, it appears that financial development, from an institutional dimension and …
Persistent link: https://www.econbiz.de/10012868462