Indicators of Currency Crisis: Empirical Analysis of some Emerging and Transition Economies

Malgorzata Jakubiak
Authors registered in the RePEc Author Service: Malgorzata McKenzie

No 218, CASE Network Studies and Analyses from CASE-Center for Social and Economic Research

Abstract: This paper focuses on the measurement of a contemporaneous currency crisis. The analysis covers 14 "emerging" or "transforming" economies that experienced episodes of currency crises over the last decade. It adds to well-known examples relatively littleknown evidence on the crisis depth in some of the CIS countries. Following the Eichengreen, Rose, and Wyplosz (1994) definition of a currency crisis, the emphasis is primarily put on the examination of changes in relative reserves, exchange rates, and real interest rates during periods of exchange rate pressure. Other measures of the depth of a currency crisis as well as measures of external vulnerability are also discussed. The findings support the adequacy of the Eichengreen, Rose, and Wyplosz (1994) definition in analyzing crisis developments in emerging economies.

Keywords: transition economies; currency crisis (search for similar items in EconPapers)
Pages: 24 Pages
Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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