The Effects of Currency Crises in Emerging Markets on the Industrial Sector: An Alternative Regime-Shifting Approach

Hakan Yilmazkuday

Emerging Markets Finance and Trade, 2009, vol. 45, issue 1, 31-48

Abstract: We analyze the effects of currency crises on the industrial sectors of Korea, Turkey, and the Czech Republic. We find that the interval for the effect of the currency crisis on the industrial sector to disappear is around four years for Korea after the 1997 currency crisis; around five and seven years for Turkey following the 1994 and 2001 currency crises, respectively; and around five years for the Czech Republic following the 1997 currency crisis. For all three countries, the effects of the currency crises on the industrial sector disappear in a longer interval than does the effect of any other economic issue.

Keywords: currency crisis; Czech Republic; industrial production cycles; Korea; regime shifts; Turkey (search for similar items in EconPapers)
Date: 2009
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