| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6620 |
| 来源ID | Working Paper 6620 |
| Current Account Reversals and Currency Crises: Empirical Regularities | |
| Gian Maria Milesi-Ferretti; Assaf Razin | |
| 发表日期 | 1998-06-01 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | This paper studies sharp reductions in current account deficits and large exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. It finds that both domestic factors, such as the low reserves, and external factors, such as unfavorable terms of trade and high interest rates in industrial countries, trigger reversals and currency crises. The two types of events are, however, distinct; indeed, current account imbalances are not sharply reduced in the years following a currency crisis. Economic performance around these events is also quite different. An exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversal events there is no systematic evidence of a growth slowdown. |
| 主题 | International Economics ; International Finance |
| URL | https://www.nber.org/papers/w6620 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564131 |
| 推荐引用方式 GB/T 7714 | Gian Maria Milesi-Ferretti,Assaf Razin. Current Account Reversals and Currency Crises: Empirical Regularities. 1998. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6620.pdf（1466KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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