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The Sustainability of Current Account Deficits and Currency Crises in Selected East Asian and Latin American Economies

Author

Listed:
  • Hong Kee Kim

    (Hannam University)

Abstract

The Asian financial crisis in 1997 embarrassed both economists and policy makers alike. The width and depth of the underlying currency crises were unprecedented. The cause of the these currency crises has yet to be established. The countries that experienced the currency crises all ran large current account deficits, which might suggest that large current account deficits caused the currency crises. However it is neither optimal nor possible to balance the current account deficits in the countries that experienced currency crises were sustainable or not.

Suggested Citation

  • Hong Kee Kim, 2000. "The Sustainability of Current Account Deficits and Currency Crises in Selected East Asian and Latin American Economies," Korean Economic Review, Korean Economic Association, vol. 16, pages 43-57.
    • Handle: RePEc:kea:keappr:ker-200006-16-1-03
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    More about this item

    Keywords

    currency crisis; sustainability of current account deficit; intertemporal budget constraint; cointegration;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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