The Duration of Capital Account Crises-An Empirical Analysis /

This paper examines the duration of capital account crises. We develop a new index to identify both the start and the end of these crises. Applying the index to a sample of 18 crisis episodes, we derive stylized facts on crisis duration and review the economic and financial circumstances that prevai...

Ausführliche Beschreibung

Bibliographische Detailangaben
1. Verfasser: Hofman, David
Weitere Verfasser: Atoyan, Ruben, Mecagni, Mauro, Tzanninis, Dimitri
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2007.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2007/258
Online Zugang:Full text available on IMF
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100 1 |a Hofman, David. 
245 1 4 |a The Duration of Capital Account Crises-An Empirical Analysis /  |c David Hofman, Ruben Atoyan, Dimitri Tzanninis, Mauro Mecagni. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2007. 
300 |a 1 online resource (42 pages) 
490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper examines the duration of capital account crises. We develop a new index to identify both the start and the end of these crises. Applying the index to a sample of 18 crisis episodes, we derive stylized facts on crisis duration and review the economic and financial circumstances that prevailed at the dusk of crises, a relatively unexplored area. We use the econometric technique of duration analysis to gauge the relative importance of various factors affecting the probability of exiting a crisis. We find that initial and external conditions are key determinants. But fiscal and monetary policies can also help shorten crisis duration. 
538 |a Mode of access: Internet 
700 1 |a Atoyan, Ruben. 
700 1 |a Mecagni, Mauro. 
700 1 |a Tzanninis, Dimitri. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2007/258 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2007/258/001.2007.issue-258-en.xml  |z IMF e-Library