Vulnerability to a currency crisis: Lessons from the Asian experience
Currency crises are rapid outflows of financial capital in anticipation of a possible currency depreciation. inducing depletion of reserves, financial instability and subsequent economic contraction. In recent years, increasing numbers of countries have fallen victim to such crises.2 Recent examples include the Mexican crisis of 1994 and the Asian crises of 1997-98. These events and the global reverberations which followed them have added new impetus to debate on their causes. The present paper...[Show more]
|Collections||ANU Research Publications|
|Source:||The World Economy|
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