Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/47107 
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dc.contributor.authorBuch, Claudia M.en
dc.contributor.authorHeinrich, Ralph P.en
dc.date.accessioned2011-06-30T15:12:21Z-
dc.date.available2011-06-30T15:12:21Z-
dc.date.issued1998-
dc.identifier.citation|nInstitut für Weltwirtschaft (IfW) |lKiel |y1998en
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
dc.language.isoengen
dc.publisher|aKiel Institute of World Economics (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x848en
dc.subject.jelF31en
dc.subject.jelF36en
dc.subject.ddc330en
dc.subject.stwBankenkriseen
dc.subject.stwWährungskriseen
dc.subject.stwMonetäre Wechselkurstheorieen
dc.subject.stwBanken
dc.subject.stwAuslandsverschuldungen
dc.subject.stwAsymmetrische Informationen
dc.subject.stwRisikoprämieen
dc.subject.stwDevisenspekulationen
dc.subject.stwTheorieen
dc.titleBanking and balance of payments crises: On possible causes of the twin crises-
dc.typeWorking Paperen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:848en
dc.identifier.printppn258172703en
dc.date.issuedonline2011en
dc.publisher.online|aZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft |cKiel, Hamburgen
econstor.documentversionDigitized Versionen
econstor.citation.publisherInstitut für Weltwirtschaft (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year1998en

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