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Contagious Currency Crises / Barry Eichengreen, Andrew K. Rose, Charles Wyplosz.
- Format:
- Book
- Author/Creator:
- Eichengreen, Barry.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w5681.
- NBER working paper series no. w5681
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1996.
- Summary:
- This paper is concerned with the fact that the incidence of speculative attacks tends to be temporally correlated; that is, currency crises appear to pass contagiously from one country to another. The paper provides a survey of the theoretical literature, and analyzes the contagious nature of currency crises empirically. Using thirty years of panel data from twenty industrialized countries, we find evidence of contagion. Contagion appears to spread more easily to countries which are closely tied by international trade linkages than to countries in similar macroeconomic circumstances.
- Notes:
- Print version record
- July 1996.
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