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Banking crisis in east asia: A micro/macro perspective

  • Rungrudee Suetorsak

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    This paper examines interactions between micro and macro variables in explaining the risk positions adopted by East Asian banks. The analysis shows that macroeconomic policies impacted the micro-economic decision making of banks in the period from 1989 to 1999. Considering the macroeconomic perspective side by side with the microeconomic perspective and including interactions between the two levels increases the explanatory power of the model and exposes ways in which macro conditions and government policies influenced banks’ reactions to their microeconomic variables and the level of risk they take. Copyright Springer Science + Business Media, Inc. 2006

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    File URL: http://hdl.handle.net/10.1007/s11156-006-7432-4
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    Article provided by Springer in its journal Review of Quantitative Finance and Accounting.

    Volume (Year): 26 (2006)
    Issue (Month): 3 (May)
    Pages: 219-248

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    Handle: RePEc:kap:rqfnac:v:26:y:2006:i:3:p:219-248
    DOI: 10.1007/s11156-006-7432-4
    Contact details of provider: Web page: http://springer.com

    Order Information: Web: http://www.springer.com/finance/journal/11156/PS2

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    1. Corsetti, G. & Pesenti, P. & Roubini, N., 1998. "What Caused the Asian Currency and Financial Crisis?," Papers 343, Banca Italia - Servizio di Studi.
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    5. P. Honohan, 2000. "Banking System Failures in Developing and Transition Countries: Diagnosis and Prediction," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 29(1), pages 83-109, 02.
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    12. Domac, Ilker & Martinez Peria, Maria Soledad, 2003. "Banking crises and exchange rate regimes: is there a link?," Journal of International Economics, Elsevier, vol. 61(1), pages 41-72, October.
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    14. Broer, Tobias, 2002. "Emerging Market Lending: Is Moral Hazard Endogenous?," Royal Economic Society Annual Conference 2002 35, Royal Economic Society.
    15. Brenda González-Hermosillo & Ceyla Pazarbaşioğlu & Robert Billings, 1997. "Determinants of Banking System Fragility: A Case Study of Mexico," IMF Staff Papers, Palgrave Macmillan, vol. 44(3), pages 295-314, September.
    16. Takatoshi Ito & Anne O. Krueger, 1999. "Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (NBER-EASE volume 7)," NBER Books, National Bureau of Economic Research, Inc, number ito_99-1, September.
    17. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, March.
    18. Hsiao, Frank S. T. & Hsiao, Mei-Chu W., 2001. "Capital flows and exchange rates: recent Korean and Taiwanese experience and challenges," Journal of Asian Economics, Elsevier, vol. 12(3), pages 353-381.
    19. Steven Radelet & Jeffrey Sachs, 1998. "The Onset of the East Asian Financial Crisis," NBER Working Papers 6680, National Bureau of Economic Research, Inc.
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    21. Menzie D. Chinn, 1998. "Before the Fall: Were East Asian Currencies Overvalued?," NBER Working Papers 6491, National Bureau of Economic Research, Inc.
    22. Radelet, S., 1999. "Indonesia: Long Road to Recovery," Papers 722, Harvard - Institute for International Development.
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    24. Brenda Gonzalez-Hermosillo, 1999. "Determinants of Ex-Ante Banking System Distress; A Macro-Micro Empirical Exploration of Some Recent Episodes," IMF Working Papers 99/33, International Monetary Fund.
    25. Sinkey, Joseph F, Jr, 1975. "A Multivariate Statistical Analysis of the Characteristics of Problem Banks," Journal of Finance, American Finance Association, vol. 30(1), pages 21-36, March.
    26. Maurice Obstfeld, 1994. "The Logic of Currency Crises," NBER Working Papers 4640, National Bureau of Economic Research, Inc.
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