What Drives Financial Crises in Emerging Markets?
- Topics:
- Investment and Capital Markets
- Tags:
- Crisis,
- Emerging Market,
- Finance,
- Financial,
- Financial Accounting,
- Financial Services,
- Marketing,
- Marketing Research,
- NeoKinetic Systems
- Source:
- NeoKinetic Systems
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Overview: This study examines the causes of financial crises in 31 emerging market countries during 1980-2001. It estimates a probit model using 23 macroeconomic and financial sector variables. Traditional variables such as unemployment and inflation, as well as several indicators of indebtedness such as private sector liabilities and the foreign liabilities of banks explain currency crises rather well, and it appears that currency crises occur in tandem with banking crises.
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Format: PDF | Size: 398KB | Date: Sep 2003 | Pages: 25
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