Frost, Jon; Saiki, Ayako - In: Review of International Economics 22 (2014) 4, pp. 722-743
The paper explores whether financial openness—capital account openness and gross capital inflows—makes countries vulnerable to currency crises. A quarterly dataset on 46 advanced and emerging market economies (AEs and EMEs) during 1975Q1–2011Q4 is used, with the period after Q2 2007 used...