Der vorliegende Aufsatz untersucht die Ursachen von Finanzmarktkrisen anhand entsprechender Vorkommnisse in Thailand, Mexiko und Tschechien, um risikoreiche Konstellationen für Emerging Markets zu identifizieren. Als Modell wurde der Ansatz von Sachs/Tornell/Velasco (1996) gewählt, der durch...

The central analysis of this research paper is an identification of most the reliable economic indicators that could provide signals for the approaching financial distress in the world economies; these warnings should certainly contribute to construction of the effective global warning system...

We explore the role of financial openness – capital account openness and gross capital inflows – and a newly constructed gravity-based contagion index to assess the importance of these factors in the run-up to currency crises. Using a quarterly data set of 46 advanced and emerging market...

This paper examines the early warning system of currency crisis in the context of Global Financial Crisis 2008. The monthly data has been taken for the period 2005-2009 for leading indicators related to external exposure (short-term debt/reserves and growth of foreign exchange reserves),...