East Asian Financial Crisis Revisited: An Econometric Analysis, 1981-2001

M. Feridun

International Journal of Applied Econometrics and Quantitative Studies, 2005, vol. 2, issue 1, 53-68

Abstract: This article seeks to find out which macroeconomic variables played a role in the East Asian financial crisis of 1997 using a linear probability model built for Malaysia, Indonesia, Thailand, Singapore, and Philippines. Results indicate that foreign direct investment, money stock, growth of exports, current account balance, and real interest rates seem to have played a role in the crisis in most countries, whereas the significance of domestic credit, inflation, and short-term debt relative to reserves appears to be rather weak as explanatory factors for the occurrence of the crisis.

Keywords: financial crises; linear probability models; East Asian crisis (search for similar items in EconPapers)
JEL-codes: F31 F32 F41 F47 (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.usc.es/economet/reviews/ijaeqs213.pdf
No

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eaa:ijaeqs:v:2:y2005:i:1_3

Ordering information: This journal article can be ordered from
http://www.usc.es/economet/info.htm

Access Statistics for this article

More articles in International Journal of Applied Econometrics and Quantitative Studies from Euro-American Association of Economic Development
Bibliographic data for series maintained by M. Carmen Guisan ().