Exchange Rate Crises: Experiences of Latin America, East Asia and India

IF 0.3 Q4 ECONOMICS

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2021-02-17 DOI:10.1177/2277978720987341

M. Agarwal, Vandana T. R.

引用次数: 1

Abstract

A number of developing countries mainly in Latin America and East Asia suffered exchange rate crises in the 1990s. India also suffered a crisis in 1991 and another earlier in 1966. We examine the run up to the crises in terms of a few macroindicators suggested by various crisis models. We then examine the aftermath of the crisis, which is largely absent in literature. We seek to explain the pre-crisis and post-crisis situations in the light of various crisis models. We find that crises in East Asia cannot be explained in terms of Krugman’s first-generation model (FGM), but those in the other countries can be explained by Krugman’s model, adding to the debates among crises models. JEL Classifications: E420, F310, F320, F410

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汇率危机：拉丁美洲、东亚和印度的经验

主要在拉丁美洲和东亚的一些发展中国家在1990年代遭遇了汇率危机。印度在1991年和1966年也遭遇了一场危机。我们根据各种危机模型提出的一些宏观指标来研究危机的爆发。然后，我们研究了这场危机的后果，这在很大程度上是文献中没有的。我们试图根据各种危机模型来解释危机前和危机后的情况。我们发现东亚的危机不能用克鲁格曼的第一代模型来解释，而其他国家的危机可以用克鲁格曼模型来解释。这增加了危机模型之间的争论。JEL分类：E420、F310、F320、F410

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来源期刊

South Asian Journal of Macroeconomics and Public Finance ECONOMICS-

CiteScore

2.10

自引率

11.10%

发文量

期刊介绍： The purpose of the Journal is to publish (in English language) peer-reviewed articles, reviews and scholarly comments on issues relating to contemporary global macroeconomics and public finance by which is understood: The Journal is for all professionals concerned with contemporary Macroeconomics and Public Finance and is a forum for all views on related subjects. The Editorial Board welcomes articles of current interest on research and application on the areas mentioned above. The Journal will be international in the sense that it seeks research papers from authors with an international reputation and articles that are of interest to an international audience. In pursuit of the above, the journal shall: a. draw on and include high quality work from the international community of scholars including those in the major countries of Asia, Europe, Asia Pacific, the United States, other parts of the Americas and elsewhere with due representation for considerations of the readership. The Journal shall include work representing the major areas of interest in contemporary research on Macroeconomics and Public Finance and on a wide range of issues covering macro- economics, tax and fiscal issues, banking and finance, international trade, labour economics, computational and mathematical methods, etc. The Journal would particularly engage papers on pure and applied economic theory and econometric methods. b. avoid bias in favour of the interests of particular schools or directions of research or particular political or narrow disciplinary objectives to the exclusion of others. c. ensure that articles are written in a terminology and style which makes them intelligible, not merely within the context of a particular discipline or abstract mode, but across the domain of relevant disciplines.