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The Duration of Capital Account Crises [electronic resource] : An Empirical Analysis, Hofman, David.

Author/Creator:
Hofman, David.
Publication:
Washington, D.C. : International Monetary Fund, 2007.
Format/Description:
Government document
Book
1 online resource (42 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 07/258.
IMF Working Papers; Working Paper No. 07/258
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Local subjects:
Balance of payments. (search)
Capital account. (search)
Capital account crises. (search)
Capital account crisis. (search)
Capital account restrictions. (search)
Capital controls. (search)
Capital flow. (search)
Capital flow reversal. (search)
Capital flow reversals. (search)
Capital flows. (search)
Capital inflows. (search)
Capital markets. (search)
Capital outflow. (search)
Capital outflows. (search)
Crisis prevention. (search)
Current account. (search)
Current account adjustment. (search)
Current account balance. (search)
Current account balances. (search)
Current account deficit. (search)
Current account deficits. (search)
Current account positions. (search)
Current account reversals. (search)
Current account surpluses. (search)
Equity inflows. (search)
Government bonds. (search)
International capital. (search)
International capital markets. (search)
Investor confidence. (search)
Loss of confidence. (search)
Net capital. (search)
Net capital flows. (search)
Net capital outflows. (search)
Private capital. (search)
Private capital flows. (search)
Real effective exchange rate. (search)
Working capital. (search)
Argentina. (search)
Brazil. (search)
Malaysia. (search)
Philippines. (search)
Turkey. (search)
Uruguay. (search)
Summary:
This paper examines the duration of capital account crises. We develop a new index to identify both the start and the end of these crises. Applying the index to a sample of 18 crisis episodes, we derive stylized facts on crisis duration and review the economic and financial circumstances that prevailed at the dusk of crises, a relatively unexplored area. We use the econometric technique of duration analysis to gauge the relative importance of various factors affecting the probability of exiting a crisis. We find that initial and external conditions are key determinants. But fiscal and monetary policies can also help shorten crisis duration.
Notes:
Description based on print version record.
Contributor:
Atoyan, Ruben.
Hofman, David.
Mecagni, Mauro.
Tzanninis, Dimitri.
Other format:
Print Version:
ISBN:
1451868219:
9781451868210
ISSN:
1018-5941
Publisher Number:
10.5089/9781451868210.001
Access Restriction:
Restricted for use by site license.