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dc.contributor.authorKarmann, Alexanderen_US
dc.contributor.authorGreßmann, Oliveren_US
dc.contributor.authorHott, Christianen_US
dc.date.accessioned2011-07-13T10:44:43Z-
dc.date.available2011-07-13T10:44:43Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/48143-
dc.description.abstractThis paper investigates contagion effects. In a model with highly and lowly informed investors we show that a currency crisis in one country can trigger a crisis in another country. Portfolio losses of the highly informed investors in one country will force them to withdraw capital from the other country. The behavior of the lowly informed investors multiplies this effect and the other country becomes more and more vulnerable. In the empirical part we focus on the Asian crisis (1997/98). Using a LOGIT approach we can show that contagion, in the sense of a crisis not explainable by economic fundamentals but by exchange rate losses resulting from investment in other countries, seems to have caused the currency crises of the Philippines and especially of Singapore.en_US
dc.language.isoengen_US
dc.publisherTechn. Univ., Fak. Wirtschaftswiss. Dresdenen_US
dc.relation.ispartofseriesDresden discussion paper in economics 02/02en_US
dc.subject.jelF3en_US
dc.subject.jelF4en_US
dc.subject.ddc330en_US
dc.subject.keywordContagionen_US
dc.subject.keywordCurrency crisesen_US
dc.subject.keywordAsian crisisen_US
dc.subject.stwWährungskriseen_US
dc.subject.stwPortfolio-Investitionen_US
dc.subject.stwUnvollkommene Informationen_US
dc.subject.stwKapitalmobilitäten_US
dc.subject.stwInternationaler Preiszusammenhangen_US
dc.subject.stwZwei-Länder-Modellen_US
dc.subject.stwSchätzungen_US
dc.subject.stwTheorieen_US
dc.subject.stwAsienen_US
dc.titleContagion of currency crises: Some theoretical and empirical analysisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn348165307en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:tuddps:0202-
Appears in Collections:Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden

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