Reinhart, Carmen and Kaminsky, Graciela (1998): Financial crises in Asia and Latin America: Then and now. Published in: American Economic Review , Vol. 88, (May 1998): pp. 444-449.
Download (88Kb) | Preview
In this paper, we analyze the extent to which past financial crises share common characteristics in Latin America, Asia, Europe, and the Middle East. We examine the recent crises in Asia and in Latin America, in particular their severity, to assess whether the considerable historical differences that we have documented for the earlier sample have eroded. We conclude that in a deregulated world, the "well-behaved" Asian financia1 crises are a relic of the past.
|Item Type:||MPRA Paper|
|Original Title:||Financial crises in Asia and Latin America: Then and now|
|Keywords:||financial crises banking volatility capital flows FDI currency crash|
|Subjects:||F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F40 - General
E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
F - International Economics > F3 - International Finance > F30 - General
|Depositing User:||Carmen Reinhart|
|Date Deposited:||09. Mar 2009 18:38|
|Last Modified:||12. Feb 2013 07:50|
Bhattarharya, Arnar; Claessens, Stijn and Hernandez, Leonardo, “Recent Financial Market Turbulence in Southeast Asia.” Mirneo, The World Bank, Washington, DC, October 1997.
Edison, Hali, and Miller, Marcus. “The Hong Kong Handover: Hidden Pitfalls?” Mimeo, Board of Governors of the Federal Reserve, Washington, DC, July 1997.
Kaminsky, Graciela L, and Reinhart, Carmen M., "The Twin Crises: The Causes of Banking and Balance of Payments Problems." Mimeo, Board of Governors of the Federal Reserve Washington, DC, August 1996.
McKinnon, Ronald and Pill, Huw, "Credible Liberalizations and International Capital Flows: The Overborrowing Syndrorne."Mirneo, Stanford University, 1994.
Montiel, Peter and Reinhart, Carmen M. "The Dynamics of Capital Movements to Emerging Econornies During the 1990s," in S. Griffith-Jones and M. Montes, eds,. Short-term capital movements and balance of payments crises . Oxford: Oxford University Press, 1998 (forthcoming).