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Managing Financial Crises; The Experience in East Asia

Lane, Timothy D.; Hamann, A. Javier; Schulze-Gattas, … - International Monetary Fund (IMF) - 2000

The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...

Persistent link: https://www.econbiz.de/10005263845

Output Response to Currency Crises

Sahay, Ratna; Mishra, Deepak; Gupta, Poonam - International Monetary Fund (IMF) - 2003

This paper analyzes the behavior of output during currency crises using a sample of 195 crisis episodes in 91 developing countries during 1970-98. It finds that more than two-fifths of the crises in the sample were expansionary, and that output contraction was greater in large and more developed...

Persistent link: https://www.econbiz.de/10005263977

Central Bank Involvement in Banking Crises in Latin America

Jácome, Luis Ignacio - International Monetary Fund (IMF) - 2008

This paper reviews the nature of central bank involvement in 26 episodes of financial disturbance and crises in Latin America from the mid-1990s onwards. It finds that, except in a handful of cases, large amounts of central bank money were used to cope with large and small crises alike. Pouring...

Persistent link: https://www.econbiz.de/10005264086

Contagion of currency crises: Some theoretical and empirical analysis

Karmann, Alexander; Greßmann, Oliver; Hott, Christian - Fakultät Wirtschaftswissenschaften, Technische … - 2002

This paper investigates contagion effects. In a model with highly and lowly informed investors we show that a currency … (1997/98). Using a LOGIT approach we can show that contagion, in the sense of a crisis not explainable by economic …

Persistent link: https://www.econbiz.de/10009226152

Systemic Risks in Global Banking; What Available Data Can Tell Us and What More Data Are Needed?

Cerutti, Eugenio; McGuire, Patrick M.; Claessens, Stijn - International Monetary Fund (IMF) - 2011

The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk analysis is severely hampered by the lack of consistent data...

Persistent link: https://www.econbiz.de/10009327867

Essays on financial crises in emerging markets

Komulainen, Tuomas - Suomen Pankki - 2004

-fulfilling crises were possible. Essay 3 studies financial contagion and develops a model of the international financial system. It uses … contagion. Essay 4 analyses the causes of financial crises in 31 emerging market countries in 1980–2001. A probit model is …

Persistent link: https://www.econbiz.de/10008692076

Speculative Behaviour, Debt Default and Contagion: An Explanation of the Latin American Crisis 2001-2002

Allsopp, Louise - Centre for International Economic Studies, School of … - 2003

contagion. A basic model of contagion shows how economies which appear fundamentally sound, can fail to meet foreign obligations … of debt default and contagion. However, when these speculators view the economy with a degree of uncertainty, the … likelihood of default and contagion is even greater. SpeculatorsÂ’ perceptions over the state of the economy are therefore …

Persistent link: https://www.econbiz.de/10008740156

The Bright and the Dark Side of Cross-Border Banking Linkages

Muñoz, Sònia; Scuzzarella, Ryan; Cihák, Martin - International Monetary Fund (IMF) - 2011

When a country's banking system becomes more linked to the global banking network, does that system get more or less prone to a banking crisis? Using model simulations and econometric estimates based on a world-wide dataset, we find an M-shaped relationship between financial stability of a...

Persistent link: https://www.econbiz.de/10009203546

Managing Financial Crises; Recent Experience and Lessons for Latin America

Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003

This paper seeks to draw lessons from the IMFâ€™s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...

Persistent link: https://www.econbiz.de/10005824823

Empirical Modeling of Contagion; A Review of Methodologies

Dungey, Mardi; Fry, Renee; Martin, Vance; … - International Monetary Fund (IMF) - 2004

The existing literature suggests a number of alternative methods to test for the presence of contagion during financial …

Persistent link: https://www.econbiz.de/10005825971