IDEAS home Printed from https://ideas.repec.org/a/fau/fauart/v52y2002i9p458-477.html
   My bibliography  Save this article

K pøíèinám mìnových krizí - empirie a teorie

Author

Listed:
  • Mojmír Helísek

Abstract

The article summarizes recognized empirical knowledge about the causes of currency crises, making use of several extensive empirical studies carried out in the late 1990s, and examines select theoretical models of such causation. The results are divided into three levels of causes: general risk conditions, fundamental causes, and immediate triggers. There are two types of theoretical models: one derived from the fundamental causes of crises and one based on self-fulfilling expectations of devaluation. The concept of the eclectic form of the causes of crises prevails in the literature over the idea of „pure“ self-fulfilling expectations. Clustering of crises are explained either by their common causes or by contagion from business and/or financial channels.

Suggested Citation

  • Mojmír Helísek, 2002. "K pøíèinám mìnových krizí - empirie a teorie," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 52(9), pages 458-477, September.
  • Handle: RePEc:fau:fauart:v:52:y:2002:i:9:p:458-477
    as

    Download full text from publisher

    File URL: http://journal.fsv.cuni.cz/storage/1114_458_477.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Graciela Kaminsky & Saul Lizondo & Carmen M. Reinhart, 1998. "Leading Indicators of Currency Crises," IMF Staff Papers, Palgrave Macmillan, vol. 45(1), pages 1-48, March.
    2. Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
    3. Maurice Obstfeld, 1994. "The Logic of Currency Crises," NBER Working Papers 4640, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Diego Nocetti, 2006. "Central bank´s value at risk and financial crises: An application to the 2001 Argentine crisis," Journal of Applied Economics, Universidad del CEMA, vol. 9, pages 381-402, November.
    2. Komulainen, Tuomas, 2001. "Currency crises in emerging markets : Capital flows and herding behaviour," BOFIT Discussion Papers 10/2001, Bank of Finland, Institute for Economies in Transition.
    3. Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 2001. "Prospective Deficits and the Asian Currency Crisis," Journal of Political Economy, University of Chicago Press, vol. 109(6), pages 1155-1197, December.
    4. Lin, Chin-Shien & Khan, Haider A. & Chang, Ruei-Yuan & Wang, Ying-Chieh, 2008. "A new approach to modeling early warning systems for currency crises: Can a machine-learning fuzzy expert system predict the currency crises effectively?," Journal of International Money and Finance, Elsevier, vol. 27(7), pages 1098-1121, November.
    5. Jean-Pierre Allegret & Marie-Noëlle Calès, 2001. "Attaques spéculatives et crédibilité du régime de change. Quel arbitrage pour le policy-mix ?," Revue économique, Presses de Sciences-Po, vol. 52(2), pages 249-264.
    6. Brana, Sophie & Chenaf-Nicet, Dalila, 2001. "Indicateurs avancés de crise de change : un examen critique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 77(4), pages 569-592, décembre.
    7. Tassos Anastasatos & Constantina Manou, 2008. "Speculative Attacks on the Drachma and the Changeover to the Euro," Economic Bulletin, Bank of Greece, issue 31, pages 49-77, November.
    8. Mohana Rao BALAGA & Puja PADHI, 2017. "Evaluating Indian economy’s vulnerability to currency crisis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(612), A), pages 97-114, Autumn.
    9. Reuven Glick & Michael M. Hutchison, 1999. "Banking and currency crises; how common are twins?," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    10. Chinn, Menzie D. & Dooley, Michael P. & Shrestha, Sona, 1999. "Latin America and East Asia in the context of an insurance model of currency crises," Journal of International Money and Finance, Elsevier, vol. 18(4), pages 659-681, August.
    11. Adil Naamane, 2012. "Peut-on prévenir les crises financières ?," Working papers of CATT hal-01885154, HAL.
    12. Pablo Bustelo & Clara Garcia & Iliana Olivie, 1999. "Global and Domestic Factors of Financial Crises in Emerging Economies: Lessons from the East Asian Episodes (1997-1999)," Working Papers 002, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
    13. Ari, Ali & Dagtekin, Rustem, 2007. "Early Warning Signals of the 2000/2001 Turkish Financial Crisis," MPRA Paper 25857, University Library of Munich, Germany.
    14. Corsetti, Giancarlo & Pesenti, Paolo & Roubini, Nouriel, 1999. "Paper tigers?: A model of the Asian crisis," European Economic Review, Elsevier, vol. 43(7), pages 1211-1236, June.
    15. Thomas Sattler & Stefanie Walter, 2010. "Monetary Credibility Vs. Voter Approval: Political Institutions And Exchange‐Rate Stabilization During Crises," Economics and Politics, Wiley Blackwell, vol. 22(3), pages 392-418, November.
    16. Bicaba, Zorobabel & Kapp, Daniel & Molteni, Francesco, 2014. "Stability periods between financial crises: The role of macroeconomic fundamentals and crises management policies," Economic Modelling, Elsevier, vol. 43(C), pages 346-360.
    17. Ari, Ali, 2008. "An Early Warning Signals Approach for Currency Crises: The Turkish Case," MPRA Paper 25858, University Library of Munich, Germany, revised 2009.
    18. Janine Aron & Ibrahim Elbadawi, 1999. "Reflections on the South African rand crisis of 1996 and policy consequences," Economics Series Working Papers WPS/1999-13, University of Oxford, Department of Economics.
    19. Dorina Marghescu & Peter Sarlin & Shuhua Liu, 2010. "Early‐warning analysis for currency crises in emerging markets: A revisit with fuzzy clustering," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 17(3‐4), pages 143-165, July.
    20. repec:bla:jecsur:v:18:y:2004:i::p:321-350 is not listed on IDEAS
    21. Jason Furman & Joseph E. Stiglitz, 1998. "Economic Crises: Evidence and Insights from East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 1-136.

    More about this item

    Keywords

    currency crises; financial crise;

    JEL classification:

    • F3 - International Economics - - International Finance
    • F31 - International Economics - - International Finance - - - Foreign Exchange

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fau:fauart:v:52:y:2002:i:9:p:458-477. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Natalie Svarcova (email available below). General contact details of provider: https://edirc.repec.org/data/icunicz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.