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Early Warning Indicators for Latin America

Jaime Tenjo () and Martha López ()

Revista ESPE - Ensayos sobre Política Económica, 2010, vol. 28, issue 63, No 63, 232-259

Abstract: We explore the performance of a set of early warning indicators for a group of Latin American economies under the endogenous cycle perspective. For this group of countries, the paper confirms the results of previous work on industrialized countries, which indicate that a combination of asset prices and credit provides valuable information of probable future financial crises. However, we go a step further in the analysis of emerging economies and find that a combination of capital flows from abroad and credit is an even superior leading indicator of such events.

Keywords: Financial (In) Stability; early warning indicators; financial accelerator (search for similar items in EconPapers)
JEL-codes: E30 E52 F30 F41 (search for similar items in EconPapers)
Date: 2010
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