La política económica de las crisis financieras: una aproximación empírica

Juan Ricardo Perilla Jiménez ()
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Juan Ricardo Perilla Jiménez: Departamento Nacional de Planeación

Revista de Economía Institucional, 2008, vol. 10, issue 18, pages 179-211

Abstract: The paper presents a model of political loss to analyze the interrelationship between the political nature of economic decisions and their influence on the probability of financial crisis. Two different definitions of crises, currency and balance of payments, are used to verify the explanatory power of political factors on both definitions of crisis. Also, a probit model is used on a sample of 63 countries between 1985 and 2000. The statistical evidence shows that while political factors are robust when they explain currency crises, they are more ambiguous in the explanation of balance of payments crises.

Keywords: financial crises; truncated and censored models (search for similar items in EconPapers)
JEL-codes: F33 F42 O19 (search for similar items in EconPapers)
Date: 2008
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Persistent link: http://EconPapers.repec.org/RePEc:rei:ecoins:v:10:y:2008:i:18:p:179-211

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