Currency And Banking Crises
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Currency And Banking Crises
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Author : Graciela Laura Kaminsky
language : en
Publisher:
Release Date : 1999
Currency And Banking Crises written by Graciela Laura Kaminsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Banks and banking categories.
Twin Crises The Contribution Of Overborrowing To Interdependencies Of Banking And Currency Crises
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Author : Tim Ebner
language : de
Publisher: GRIN Verlag
Release Date : 2013-02-13
Twin Crises The Contribution Of Overborrowing To Interdependencies Of Banking And Currency Crises written by Tim Ebner and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-13 with Business & Economics categories.
Bachelorarbeit aus dem Jahr 2009 im Fachbereich VWL - Internationale Wirtschaftsbeziehungen, Note: 2,3, Westfälische Wilhelms-Universität Münster (Institut für Internationale Ökonomie), Sprache: Deutsch, Abstract: The occurrence of twin crises can evoke serious recessions. From 1976 to 2002 there were 38 countries afflicted by at least one twin crisis. McKinnon and Pill (1996, 1997, 1998, 1999) set basic milestones in respect of international overborrowing and drew a linkage to twin crises. Their papers are still increasingly cited by current publications. This paper at first systemizes literature on currency, banking and twin crises and gives a review on several contributions. The second section deals with the third generation model of McKinnon and Pill concerning “The Overborrowing Syndrome”. Their key finding is that loan guarantees may lead via excessive borrowing to a twin crisis. After this, policy conclusions to counteract international overborrowing and a review on the development of theoretical overborrowing papers will complete the second section. In section three it will refer to empirical studies on crises and overborrowing. Section four closes with final remarks.
Banking Currency And Finance In Europe Between The Wars
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Author : Charles H. Feinstein
language : en
Publisher: Clarendon Press
Release Date : 1995-09-28
Banking Currency And Finance In Europe Between The Wars written by Charles H. Feinstein and has been published by Clarendon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-09-28 with Business & Economics categories.
The financial history of interwar Europe was dominated by catastrophic episodes of hyper-inflation, dramatic exchange rate crises, massive and destabilizing movements of gold and capital, and extensive banking failures. In their attempt to restore and sustain the gold standard as the basis of the international monetary system, many countries were compelled to resort to deflationary fiscal and monetary policies of exceptional severity. The policies thus adopted in the 1920s were a major cause of the Great Depression of 1929-33; and this in turn exerted a powerful influence on the subsequent political and economic history of the 1930s. This collection of essays is the work of an international network of economic historians from Europe and the United States convened by the European Science Foundation. It brings together, in an accessible style, current knowledge and understanding of the nature and effects of these developments in banking, currency, and finance in the interwar period. The topics are examined at three levels. In Part I a substantial introductory survey of the central issues over the entire period is followed by special studies of the banking crises, the global capital flows, and the interrelationship of economic and political policies, with each of these themes considered in an international perspective. Part II is devoted to illuminating comparative analyses of the financial and exchange policies of pairs of countries; France and Italy, Britain and Germany, Sweden and Finland, and Belgium and France. In Part III the essays move to the level of individual countries and each contributor explores topics such as the form and efficacy of official banking and monetary policies, the role of the central bank, movements in the money supply and prices, the relationship between the banks and the industrial sector, changes in exchange rates and foreign capital investment. The volume covers all the major countries, and also makes available the results of recent research on banking and finance in smaller countries, such as Spain, Austria, Norway, Poland, Portugal, Bulgaria, and Ireland. The questions addressed by this book, and the temes and patterns it reveals, are relevant both to economic and political historians of the years between the two world wars, and to those interested in contemporary banking and financial problems.
Banking Crises
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Author : Vasudevan Sundararajan
language : en
Publisher: International Monetary Fund
Release Date : 1991-03-15
Banking Crises written by Vasudevan Sundararajan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-03-15 with Business & Economics categories.
Considers some of the issues on the basis of the experience of several countries that have faced a banking crisis-defined as widespread insolvencies in the financial sector leading to significant government intervention.
What S The Damage Medium Term Output Dynamics After Banking Crises
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Author : Mr.Abdul Abiad
language : en
Publisher: International Monetary Fund
Release Date : 2009-11-01
What S The Damage Medium Term Output Dynamics After Banking Crises written by Mr.Abdul Abiad and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-01 with Business & Economics categories.
This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and post-crisis conditions and policies. We find that output tends to be depressed substantially following banking crises, with no rebound to the precrisis trend. However, growth does eventually tend to return to its precrisis rate, with substantial crosscountry variation in outcomes. The depressed path of output typically results from reductions of roughly equal proportions in the employment rate, the capital-to-labor ratio, and total factor productivity. Initial conditions that are strongly associated with medium-run output losses include the short-run change in output, the occurrence of a joint banking-and-currency crisis, and a high precrisis level of investment. Short-run fiscal and monetary stimulus is associated with smaller medium-run deviations of output and growth from the precrisis trend.
Overcoming Asia S Currency And Financial Crises
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Author : Kozo Kunimune
language : en
Publisher:
Release Date : 2004-03
Overcoming Asia S Currency And Financial Crises written by Kozo Kunimune and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-03 with Asia categories.
Banking Crises And Exchange Rate Regimes
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Author : Ilker Domaç
language : en
Publisher: World Bank Publications
Release Date : 2000
Banking Crises And Exchange Rate Regimes written by Ilker Domaç and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Bank failures categories.
Pursuing a policy of exchange rate stability reduces the probability of banking crises, particularly in developing countries.
Early Warning Systems For Financial Crises
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Author : Asian Development Bank
language : en
Publisher: Springer
Release Date : 2005-02-15
Early Warning Systems For Financial Crises written by Asian Development Bank and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-02-15 with Business & Economics categories.
Since the 1997 Asian financial crisis, East Asia has implemented a number of initiatives designed to strengthen monetary and financial cooperation, bolstering the region's resilience to economic and financial vulnerabilities. One such initiative is the ASEAN+3 Information Exchange and Policy Dialogue, which includes development of early warning systems (EWS) for financial crises. This book examines efforts to develop EWS models. Specifically, the book analyzes the current understanding of the causes of currency and banking crises, describes recent progress in developing and applying EWS models for currency and banking crises, reviews methodolgical issues, assesses the predictive power of EWS models and also highlights areas where further research is required to make these models more effective tools for policy analysis. The case studies apply both parametric and nonparametric approaches to EWS modleing using data from six East Asian countries.
Systemic Banking Crises
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Author : Luc Laeven
language : en
Publisher: International Monetary Fund
Release Date : 2008-09
Systemic Banking Crises written by Luc Laeven and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09 with Business & Economics categories.
We provide new firm-level evidence on the effects of capital account liberalization. Based on corporate foreign-currency credit ratings data and a novel capital account restrictions index, we find that capital controls can substantially limit access to, and raise the cost of, foreign currency debt, especially for firms without foreign currency revenues. As an identification strategy, we exploit, via a difference-in-difference approach, within-country variation in firms' access to foreign currency, measured by whether or not a firm belongs to the nontradables sector. Nontradables firms benefit substantially more from capital account liberalization than others, a finding that is robust to a broad range of alternative specifications.
Preventing Currency Crises In Emerging Markets
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Author : Sebastian Edwards
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15
Preventing Currency Crises In Emerging Markets written by Sebastian Edwards and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-15 with Business & Economics categories.
Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.