Signaling Currency Crises in South Africa

Tobias Knedlik

No 19/2006, IWH Discussion Papers from Halle Institute for Economic Research (IWH)

Abstract: Currency crises episodes of 1996, 1998, and 2001 are used to identify common country specific causes of currency crises in South Africa. The paper identifies crises by the use of an Exchange Market Pressure (EMP) index as introduced by Eichengreen, Rose and Wyplosz (1996). It extends the Signals Approach introduced by Kaminsky and Reinhart (1996, 1998) by developing a composite indicator in order to measure the evolution of currency crisis risk in South Africa. The analysis considers the standard suspects from international currency crises and country specifics as identified by the Myburgh Commission (2002) and current literature as potentially relevant indicators.

Keywords: Signalansatz; Währungskrisen; Südafrika; signals approach; currency crises; South Africa (search for similar items in EconPapers)
JEL-codes: E5 F3 G1 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:iwhdps:iwh-19-06

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