Staying afloat when the wind shifts
external factors and emerging-market banking crises / Barry Eichengreen, Andrew K. Rose.
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Author
Contributions
- Rose, Andrew, 1959- - Contributor
- National Bureau of Economic Research. - Contributor
Publication
1998 - National Bureau of Economic Research, Cambridge, MA, Massachusetts
Language
English
Word Count
11,250 words, Guess
Page Count
45 pages
Identifiers
- OCLC Control Number38528659
- Open LibraryOL22403995M
Classifications
- LCCHB1 .W654 no. 6370
Alternate Titles
- Emerging-market banking crises
Description
We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular Northern interest rates are strongly associated with the onset of banking crises in developing countries, even after taking into account a host of internal macroeconomic factors. A one percent increase in Northern interest rates is associated with an increase in the probability of Southern banking crises of around three percent. Our results also seem insensitive to the effects of differing exchange rate regimes, external debt burdens and domestic financial structures.
Subjects
Series Statement
- NBER working paper series -- working paper 6370
- Working paper series (National Bureau of Economic Research) -- working paper no. 6370.
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