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dc.contributor.authorBuch, Claudia M.en_US
dc.contributor.authorHeinrich, Ralph P.en_US
dc.date.accessioned2011-06-30T15:12:21Z-
dc.date.available2011-06-30T15:12:21Z-
dc.date.issued1998en_US
dc.identifier.urihttp://hdl.handle.net/10419/47107-
dc.description.abstractBanking and balance of payments crises often happen quite simultaneously. We show that the impact of an expected devaluation on the net worth of commercial banks with a short open foreign exchange position speeds up the timing of a balance of payments crisis. We employ an asymmetric information framework in which domestic commercial banks have to pay a positive risk premium on the international capital market which is determined by their net worth. Some stylized facts from selected transition and developing countries are presented in order to gauge the empirical relevance of the effects that we stress.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 848en_US
dc.subject.jelF31en_US
dc.subject.jelF36en_US
dc.subject.ddc330en_US
dc.subject.stwBankenkriseen_US
dc.subject.stwWährungskriseen_US
dc.subject.stwMonetäre Wechselkurstheorieen_US
dc.subject.stwBanken_US
dc.subject.stwAuslandsverschuldungen_US
dc.subject.stwAsymmetrische Informationen_US
dc.subject.stwRisikoprämieen_US
dc.subject.stwDevisenspekulationen_US
dc.subject.stwTheorieen_US
dc.titleBanking and balance of payments crises: On possible causes of the twin crisesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn258172703en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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