Capital Flows and Financial Crises: A Comparative Analysis of East Asia (1997-97) and Argentina (2001-02)

Pablo Bustelo

No 04-17, Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales

Abstract: This paper suggests, first, that a simple theoretical framework is useful in explaining financial crises in emerging economies. Second, it reviews the East Asian financial crises of 1997-98 . Third, the paper examines the origins of Argentina’s crisis of 2001-02. Fourth, it presents a comparative analysis of both crises, highlighting their similarities and differences. Finally, the conclusions point out the drawbacks of both hard and soft pegs respective to a single foreign currency as well as the need for emerging economies to use capital controls in order to avoid the recurrence of financial crises.

Keywords: Crisis financieras; East Asia; Argentina; Financial crisis; Emerging economies; Exchange rate; Financial markets. (search for similar items in EconPapers)
Pages: 29 pages
Date: 2004
New Economics Papers: this item is included in nep-sea
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eprints.ucm.es/id/eprint/6841/1/0417.pdf (application/pdf)

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:ucm:doctra:04-17

Ordering information: This working paper can be ordered from
Facultad de Ciencias Económicas y Empresariales. Campus de Somosaguas, 28223 - POZUELO DE ALARCÓN (MADRID)
https://economicasye ... /working-papers-ccee

Access Statistics for this paper

More papers in Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales Contact information at EDIRC.
Bibliographic data for series maintained by Águeda González Abad ().