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Author : Tatjana Dahlhaus
Release : 2018
Genre : Economic indicators
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Assessing Vulnerabilities in Emerging-market Economies by : Tatjana Dahlhaus
Download or read book Assessing Vulnerabilities in Emerging-market Economies written by Tatjana Dahlhaus. This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Morris Goldstein
Release : 2000
Genre : Business & Economics
Kind : eBook
Book Rating : 378/5 ( reviews)
Book Synopsis Assessing Financial Vulnerability by : Morris Goldstein
Download or read book Assessing Financial Vulnerability written by Morris Goldstein. This book was released on 2000. Available in PDF, EPUB and Kindle. Book excerpt: This study reviews the literature on the origins of currency and banking crises. It presents empirical tests on the performance of alternative early-warning indicators for emerging-market economies. The book also identifies crisis-threshold values for early-warning indicators.
Author : Morris Goldstein
Release : 2018
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Assessing Financial Vulnerability in Emerging Economies by : Morris Goldstein
Download or read book Assessing Financial Vulnerability in Emerging Economies written by Morris Goldstein. This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to identify key empirical regularities in the run-up to banking and currency crises that would enable officials and private market participants to recognize vulnerability to financial crises at an earlier stage. This, in turn, should make it easier to motivate the corrective policy actions that would prevent such crises from actually taking place. Interest in identifying early warning indicators of financial crises has soared of late, stoked primarily by two factors. First, there is increasing recognition that banking and currency crises can be extremely costly to the countries in which they originate; in addition, these crises often spillover via a variety of channels to increase the vulnerability of other countries to financial crisis. The second reason for the increased interest in early warning indicators of financial crises is that there is accumulating evidence that two of the most closely watched market indicators of default and currency risks-namely, interest rate spreads and changes in credit ratings - frequently do not provide much advance warning of currency and banking crises. The other reason why market prices may not signal impending crises is that there are often widely and strongly-held expectations of a bail-out of a troubled borrower by the official sector be it national or international. Dooley has stressed this point in several papers. If interest rate spreads and sovereign credit ratings only give advance warning of financial crises once in a while, increased interest attaches to the question of whether there are other early-warning indicators that would do a better job, and if so, what are they? This is one of the key questions we address in this paper.
Author : Mr.Christian B. Mulder
Release : 1999-07-01
Genre : Business & Economics
Kind : eBook
Book Rating : 146/5 ( reviews)
Book Synopsis External Vulnerability in Emerging Market Economies by : Mr.Christian B. Mulder
Download or read book External Vulnerability in Emerging Market Economies written by Mr.Christian B. Mulder. This book was released on 1999-07-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the factors behind the 1994 and 1997 crises and whether these can explain the 1998 crisis. The study reveals that: (i) variables used in an Early Warning System model developed by IMF staff scored well in predicting the 1998 crisis out-of-sample; (ii) all three crisis episodes can be well explained by a parsimonious set of core fundamentals and liquidity related variables; and (iii) the presence of an IMF-supported program significantly reduced the depth of crises. The results suggest that as a rule of thumb countries should hold reserves to the tune of short-term debt to avoid contagion-related crises, provided their current deficits are modest and their real effective exchange rates are not significantly misaligned.
Author : Mr.Richard Hemming
Release : 2003-05-23
Genre : Business & Economics
Kind : eBook
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Book Synopsis Fiscal Vulnerability and Financial Crises in Emerging Market Economies by : Mr.Richard Hemming
Download or read book Fiscal Vulnerability and Financial Crises in Emerging Market Economies written by Mr.Richard Hemming. This book was released on 2003-05-23. Available in PDF, EPUB and Kindle. Book excerpt: Recent crises in Argentina and Turkey illustrate the continuing importance of fiscal problems in precipitating financial crises, and whatever their cause, financial crises always have important fiscal dimensions. market economies, particularly with regards to the fiscal causes of crises; fiscal vulnerability indicators which can help to predict crises; whether fiscal variables explain the severity of crises; and the fiscal consequences of crises. The study uses a large set of fiscal variables for 29 emerging market economies over the period 1970-2000; as well as detailed case studies of 11 recent crises in emerging market economies to examine some of the structural and institutional dimensions of fiscal vulnerability.
