Understanding the Financial Crisis in Asia

Détails

ID Serval
serval:BIB_76A45F37DF46
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Titre
Understanding the Financial Crisis in Asia
Périodique
Pacific-Basin Finance Journal
Auteur(s)
Chowdhry  B., Goyal  A.
ISSN
0927-538X
Statut éditorial
Publié
Date de publication
05/2000
Peer-reviewed
Oui
Volume
8
Numéro
2
Pages
135-152
Langue
anglais
Résumé
The financial crisis of East Asia in 1997 was largely unanticipated and was characterized by sharp falls in asset prices and currency values in several countries simultaneously. Many empirical models have been developed to predict the occurrence of such crisis. However, the out-of-sample performance of these models is disappointing. Most theoretical explanations of the crisis emphasize the role of banking sector and revolve around models of moral hazard or self-fulfilling runs on liquidity. Empirical tests of the models are, however, rare. Much work remains to be done to explain the contagion, and the effects of equity capital flows.
Mots-clé
Financial crisis, Real exchange rate, Moral hazard, Run, Liquidity, Capital flows
Création de la notice
07/07/2009 15:09
Dernière modification de la notice
19/04/2018 12:24
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