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01921cas a2200253 a 4500 |
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AALejournalIMF000956 |
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|c 5.00 USD
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|z 9781451851144
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Mulder, Christian.
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|a External Vulnerability in Emerging Market Economies :
|b How High Liquidity Can Offset Weak Fundamentals and the Effects of Contagion /
|c Christian Mulder, Matthieu Bussiere.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (41 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper investigates the factors behind the 1994 and 1997 crises and whether these can explain the 1998 crisis. The study reveals that: (i) variables used in an Early Warning System model developed by IMF staff scored well in predicting the 1998 crisis out-of-sample; (ii) all three crisis episodes can be well explained by a parsimonious set of core fundamentals and liquidity related variables; and (iii) the presence of an IMF-supported program significantly reduced the depth of crises. The results suggest that as a rule of thumb countries should hold reserves to the tune of short-term debt to avoid contagion-related crises, provided their current deficits are modest and their real effective exchange rates are not significantly misaligned.
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|a Mode of access: Internet
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|a Bussiere, Matthieu.
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|a IMF Working Papers; Working Paper ;
|v No. 1999/088
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/088/001.1999.issue-088-en.xml
|z IMF e-Library
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