Exchange rates and currency crises
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- Learning from past banking crises - which policy responses work?
- ( L. Laeven;F. Valencia / IMF Publications , 2008)
- A new dataset from the IMF on banking crises has been compiled. It claims to be the most complete and detailed on banking crises to date. The information covers the timing of systemic crises between 1...
- Unilateral basket peg offers the highest regime gains for East Asian countries
- ( P. Wilson / National University of Singapore, Department of Economics , 2007)
- During the Asian financial crisis, unilateral exchange rate regimes did not cope very well with massive capital inflows. Hard pegs or free floating regimes proved to be either too risky or too rigid. ...
- Successful policies bringing economic growth and poverty reduction in Argentina
- ( L. Sandoval;M. Weisbrot / Center for Economic and Policy Research, Washington , 2007)
- Argentina has recovered quickly from a record sovereign debt default and financial collapse in December 2001. The authors argue that this was due to a shift in government policy after IMF promoted aus...
- How can Asia further strengthen regional financial integration?
- ( D. Cowen; R. Salgado; H. Shah; L. Teo; A. Zanello / International Monetary Fund , 2006)
- Over the past two decades, Asia’s share of world trade has risen substantially, and intraregional trade has risen even faster. By comparison, financial integration has been more sluggish, particularly...
- Proetecting against exchange rate volatility through international reserves, openness, and the depth of financial markets
- ( J. Aizenman; D. Riera-Crichton / National Bureau of Economic Research, USA , 2006)
- Volatility in the exchange rate can reduce growth for countries with relatively low levels of financial development. Exchange rates in developing country economies can be particularly vulnerable to ec...
- Flexible exchange rate regimes in Thailand
- ( I. Tchakarov; S. Elekdag / International Monetary Fund Working Papers , 2006)
- This paper examines the effects of world interest rate shocks on real activity in Thailand. The analysis incorporates balance sheet related credit market frictions into the IMF’s Global Economy Model ...
- Free-riding behaviour and looser fiscal discipline associated with restrictive exchange rate regimes within a Caribbean currency union
- ( R. Duttagupta; G. Tolosa / International Monetary Fund Working Papers , 2006)
- This paper studies the scope for moral hazards or ‘free-riding’ behaviour in fiscal policies under various exchange rate regimes. The purpose is to demonstrate that the exchange rate regime can also h...
- How to minimise vulnerability to currency contractions in developing countries
- ( J. Frankel / Center for International Development, Harvard University , 2005)
- This paper was presented as the Mundell-Fleming Lecture at the IMF Annual Research Conference. This paper begins with the question of why currency contractions are so politically costly? According to ...
- Excessive risk throughout the banking system caused depositors to flee
- ( T. Burdisso; V. Cohen Sabban; L. D’Amato / Instituto de Economia, Universidad de la Republica, Uruguay , 2002)
- One explanation of the banking crisis in Argentina in 2001 is that idiosyncratic, random shocks affecting the solvency of individual banks caused depositors to withdraw savings, causing panic which th...
- Choice of exchange rate regime depends on a complex set of factors
- ( W. McKibbin; H.G. Lee / Brookings Institution , 2004)
- This paper contributes to the ongoing debate about the appropriate exchange rate system for Asian economies, which has erupted since the Asian financial crisis. It offers some preliminary empirical ev...
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