Crises gêmeas nos mercados emergentes: América Latina x Leste Asiático [Twin crises in emergent markets: Latin America and Eastern Asia]

Tito Moreira (), Maurício Barata de Paula Pinto () and Geraldo da Silva e Souza ()
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Maurício Barata de Paula Pinto: UnB
Geraldo da Silva e Souza: UnB

Nova Economia, 2004, vol. 14, issue 3, 161-186

Abstract: This article uses a crisis index based on an average of the variations in currency and financial crises indicators, referred to as "twin crises", adjusting them to the same volatility. Thus, the objective is to measure the degree of vulnerability to twin crises within a group of 19 countries in the context of the East Asian crisis. Based on the crisis index regarding data from 1996, the most vulnerable countries of the twin crises can be ordered and identified a year before the onset of the crises. East Asian countries, in contrast with Latin American countries, were identified as the most vulnerable to twin crises.

Keywords: Latin America; East Asian crisis; twin crises; currency and financial crises (search for similar items in EconPapers)
JEL-codes: F30 F41 (search for similar items in EconPapers)
Date: 2004
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