Structural Vulnerability and Currency Crises

Structural Vulnerability and Currency Crises

This paper examines the role of structural factors-governance and rule of law, corporate sector governance (creditor rights and shareholder rights), corporate financing structure-as well as macroeconomic variables in currency crises. Using a technique known as a binary recursive tree allows for inte...

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Bibliographische Detailangaben
1. Verfasser: Ghosh, Swart R. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C International Monetary Fund 2002
Schriftenreihe:IMF Working Papers Working Paper No. 02/9
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Beschreibung
Zusammenfassung:This paper examines the role of structural factors-governance and rule of law, corporate sector governance (creditor rights and shareholder rights), corporate financing structure-as well as macroeconomic variables in currency crises. Using a technique known as a binary recursive tree allows for interactions between the various explanatory variables. It is found that structural vulnerabilities play an important role in the occurrence of "deep" currency crises (those with a real GDP growth decline of at least 3 percentage points) and that there are complex interactions between these structural vulnerabilities and macroeconomic imbalances
Beschreibung:1 Online-Ressource (31 p)
ISBN:1451842600
9781451842609

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