Currency Crises : In Search of Common Elements

Author/Editor:

Ranil M Salgado ; Jahangir Aziz ; Francesco Caramazza

Publication Date:

March 1, 2000

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The paper seeks to identify common characteristics among a variety of macroeconomic and financial variables for a large sample of currency crises in industrial countries and emerging market economies. It covers crises which culminated in large currency depreciation as well as those in which there was a substantial loss of foreign reserves. The analysis involves comparing the monthly or annual pattern of movement of the various macroeconomic and financial variables around the time of crisis to their behavior during tranquil periods. The robustness of the results is tested by subdividing the sample into different types of currency crises and carrying out a similar analysis for each.

Series:

Working Paper No. 00/67

Subject:

English

Publication Date:

March 1, 2000

ISBN/ISSN:

9781451848892/1018-5941

Stock No:

WPIEA0672000

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

55

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