Juan Ricardo Perilla Jiménez () (Departamento Nacional de Planeación)
Abstract
The paper presents a model of political loss to analyze the interrelationship between the political nature of economic decisions and their influence on the probability of financial crisis. Two different definitions of crises, currency and balance of payments, are used to verify the explanatory power of political factors on both definitions of crisis. Also, a probit model is used on a sample of 63 countries between 1985 and 2000. The statistical evidence shows that while political factors are robust when they explain currency crises, they are more ambiguous in the explanation of balance of payments crises.
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Volume (Year): 10 (2008) Issue (Month): 18 (January-June) Pages: 179-211 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Reinhart, Carmen & Kaminsky, Graciela & Lizondo, Saul, 1998.
"Leading Indicators of Currency Crises,"
MPRA Paper
6981, University Library of Munich, Germany.
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