Measuring Sudden Stops in Mongolia
Dulamzaya Batjargal and
Gan-Ochir Doojav ()
MPRA Paper from University Library of Munich, Germany
In this paper, we empirically examine the sudden stops in capital flows in Mongolia based on Calvo et al. (2004) approach in the past two decades. We found 5 episodes of sudden stops in capital flows and 5 episodes of sudden stops in domestic credits since 1998. Domestic sudden stops lasted longer than the external sudden stop and, in most cases, external sudden stops are followed by the domestic sudden stops. The common consequences of sudden stops on the economy are reduced investments, slack in credits, economic slowdown, the exchange rate depreciation, decline in reserves, and banking crisis/difficulties.
Keywords: Sudden stops; Capital flows; Exchange rate volatility; Mongolia (search for similar items in EconPapers)
JEL-codes: F0 F32 F41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis, nep-mon and nep-opm
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Published in Journal of Money, Finance and Wealth 2020-22.22(2020): pp. 68-83
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:105115
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