Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/48143 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorKarmann, Alexanderen
dc.contributor.authorGreßmann, Oliveren
dc.contributor.authorHott, Christianen
dc.date.accessioned2011-07-13T10:44:43Z-
dc.date.available2011-07-13T10:44:43Z-
dc.date.issued2002-
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
dc.language.isoengen
dc.publisher|aTechnische Universität Dresden, Fakultät Wirtschaftswissenschaften |cDresdenen
dc.relation.ispartofseries|aDresden Discussion Paper Series in Economics |x02/02en
dc.subject.jelF3en
dc.subject.jelF4en
dc.subject.ddc330en
dc.subject.keywordContagionen
dc.subject.keywordCurrency crisesen
dc.subject.keywordAsian crisisen
dc.subject.stwWährungskriseen
dc.subject.stwPortfolio-Investitionen
dc.subject.stwUnvollkommene Informationen
dc.subject.stwKapitalmobilitäten
dc.subject.stwInternationaler Preiszusammenhangen
dc.subject.stwZwei-Länder-Modellen
dc.subject.stwSchätzungen
dc.subject.stwTheorieen
dc.subject.stwAsienen
dc.titleContagion of currency crises: Some theoretical and empirical analysis-
dc.typeWorking Paperen
dc.identifier.ppn822338793en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:tuddps:0202en

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.