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Autore: | Macagni Mauro |
Titolo: | The persistence of capital account crises / / prepared by Mauro Macagni, Ruben Atoyan, David Hofman |
Pubblicazione: | [Washington D.C.], : International Monetary Fund, 2009 |
Edizione: | 1st ed. |
Descrizione fisica: | 1 online resource (29 p.) |
Disciplina: | 332.152 |
Soggetto topico: | Capital movements |
Financial crises | |
Altri autori: | AtoyanRuben HofmanDavid |
Note generali: | Description based upon print version of record. |
Nota di bibliografia: | Includes bibliographical references. |
Nota di contenuto: | Contents; I. Introduction; II. Conceptual Framework and Methodology; A. Crisis Persistence, Complexity, and Macroeconomic Effects; Figures; 1. Average Duration and Crisis Complexity; Tables; 1. Duration and Nature of Crises; 2. Crisis Complexity, Duration, and Macroeconomic Costs; B. Determinants of the Duration of Crises; 3. Post-Crisis Vulnerabilities; C. Econometric Methodology; III. Persistence of Capital Account Crises; A. Estimation Results and Robustness Tests; 2. Estimation Results for the Capital Account Crises Duration Model; Boxes; 1. Some Further Diagnostic Results |
B. Counterfactual Experiments 3. Descriptive Statistics for the Model Variables; 4. Predicted Probabilities of Staying in Crisis under Different Scenarios; 5. Increase in Predicted Probability of Exit from Crisis under Various Scenarios; 6. Reduction in Predicted Crisis Duration under Various Scenarios; IV. Conclusions; Appendices; 1. Measuring the Duration of Capital Account Crises; 2. A Model for the Duration of Capital Account Crises; References | |
Sommario/riassunto: | This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second, we provide a systematic examination of the determinants of crisis duration. Our econometric analysis suggests that initial conditions and the external environment plays a key role in determining crisis persistence. The policy response also matters, but cannot offset a record of poor past policies. Overall, the results underscore the critical importance of crisis prevention efforts. |
Titolo autorizzato: | The persistence of capital account crises |
ISBN: | 1-4623-9310-1 |
1-4527-1374-X | |
1-4518-7250-X | |
1-282-84318-4 | |
9786612843181 | |
Formato: | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910825975603321 |
Lo trovi qui: | Univ. Federico II |
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