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On Determinants of the Depth of Currency Crisis: Fundamentals, Contagion, and Financial Liberalization

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  • Masazumi Hattori

    (Bank of Japan)

Abstract
This paper contains an empirical analysis of the "depth" of the Mexican Currency Crisis (1994-1995) and the East Asian Currency Crisis (1997). The purpose is to attempt to gauge the degree of impact of 1) deterioration in economic fundamentals and 2) the function of contagion channels on the above two crises.

Suggested Citation

  • Masazumi Hattori, 2002. "On Determinants of the Depth of Currency Crisis: Fundamentals, Contagion, and Financial Liberalization," Bank of Japan Working Paper Series International Department,, Bank of Japan.
    • Handle: RePEc:boj:bojwps:02-e-2i
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    File URL: http://www.boj.or.jp/en/research/wps_rev/wps_2002/data/iwp02e02.pdf
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    References listed on IDEAS

    as
    1. Corsetti, Giancarlo & Pesenti, Paolo & Roubini, Nouriel, 1999. "Paper tigers?: A model of the Asian crisis," European Economic Review, Elsevier, vol. 43(7), pages 1211-1236, June.
    2. Flood, Robert P. & Garber, Peter M., 1984. "Collapsing exchange-rate regimes : Some linear examples," Journal of International Economics, Elsevier, vol. 17(1-2), pages 1-13, August.
    3. Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
    4. Fratzscher, M., 1999. "What Causes Currency Crises: Sunspots, Contagion or Fundamentals?," Economics Working Papers eco99/39, European University Institute.
    5. Ms. Sweta Chaman Saxena & Ms. Valerie Cerra, 2000. "Contagion, Monsoons, and Domestic Turmoil in Indonesia: A Case Study in the Asian Currency Crisis," IMF Working Papers 2000/060, International Monetary Fund.
    6. Masazumi Hattori, 2001. "A Survey on Recent Theories and Empirical Analyses Regarding Currency Crises -- The Role of Liquidity Provision as a Policy Measure in Currency Crisis Management --," Bank of Japan Working Paper Series International Department,, Bank of Japan.
    Full references (including those not matched with items on IDEAS)

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