Staying afloat when the wind shifts : enternal factors and emerging-market banking crises /
Eichengreen, Barry J.
Rose, Andrew,1959-
Centre for Economic Policy Research (Great Britain)
London : Centre for Economic Policy Research,
[1998].
We analyze banking crises using a panel of macroeconomic and financial data for more than 100 developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular high Northern interest rates are strongly associated with the onset of banking crises in developing countries, even after taking into account a host of internal macroeconomic factors.
Includes bibliographical references (p. 33-36).
We analyze banking crises using a panel of macroeconomic and financial data for more than 100 developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular high Northern interest rates are strongly associated with the onset of banking crises in developing countries, even after taking into account a host of internal macroeconomic factors.
Financial crises
Interest rates