East Asian Financial Crisis Revisited: An Econometric Analysis, 1981-2001
AbstractThis article seeks to find out which macroeconomic variables played a role in the East Asian financial crisis of 1997 using a linear probability model built for Malaysia, Indonesia, Thailand, Singapore, and Philippines. Results indicate that foreign direct investment, money stock, growth of exports, current account balance, and real interest rates seem to have played a role in the crisis in most countries, whereas the significance of domestic credit, inflation, and short-term debt relative to reserves appears to be rather weak as explanatory factors for the occurrence of the crisis.
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Bibliographic InfoArticle provided by Euro-American Association of Economic Development in its journal International Journal of Applied Econometrics and Quantitative Studies .
Volume (Year): 2 (2005)
Issue (Month): 1 ()
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Web page: http://www.usc.es/economet/eaa.htm
Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
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