Staying afloat when the wind shifts: external factors and emerging-market banking crises
We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular Northern interest rates are stron...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1998
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| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6370 |
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular 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. A one percent increase in Northern interest rates is associated with an increase in the probability of Southern banking crises of around three percent. Our results also seem insensitive to the effects of differing exchange rate regimes, external debt burdens and domestic financial structures. |
| Beschreibung: | 45 S. graph. Darst. |
Internformat
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| 264 | 1 | |a Cambridge, Mass. |c 1998 | |
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| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 6370 | |
| 520 | 3 | |a We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular 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. A one percent increase in Northern interest rates is associated with an increase in the probability of Southern banking crises of around three percent. Our results also seem insensitive to the effects of differing exchange rate regimes, external debt burdens and domestic financial structures. | |
| 650 | 7 | |a Crises boursières - Pays en voie de développement |2 ram | |
| 650 | 7 | |a Taux d'intérêt - Pays en voie de développement |2 ram | |
| 650 | 4 | |a Entwicklungsländer | |
| 650 | 4 | |a Financial crises |z Developing countries | |
| 650 | 4 | |a Interest rates |z Developing countries | |
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| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 830 | 0 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 6370 |w (DE-604)BV002801238 |9 6370 | |
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| id | DE-604.BV011898576 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:18:12Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008040152 |
| oclc_num | 38528659 |
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| physical | 45 S. graph. Darst. |
| publishDate | 1998 |
| publishDateSearch | 1998 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Eichengreen, Barry 1952- Verfasser (DE-588)121986012 aut Staying afloat when the wind shifts external factors and emerging-market banking crises Barry Eichengreen ; Andrew K. Rose Cambridge, Mass. 1998 45 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6370 We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular 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. A one percent increase in Northern interest rates is associated with an increase in the probability of Southern banking crises of around three percent. Our results also seem insensitive to the effects of differing exchange rate regimes, external debt burdens and domestic financial structures. Crises boursières - Pays en voie de développement ram Taux d'intérêt - Pays en voie de développement ram Entwicklungsländer Financial crises Developing countries Interest rates Developing countries Rose, Andrew 1959- Verfasser (DE-588)124547559 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6370 (DE-604)BV002801238 6370 http://papers.nber.org/papers/w6370.pdf kostenfrei Volltext |
| spellingShingle | Eichengreen, Barry 1952- Rose, Andrew 1959- Staying afloat when the wind shifts external factors and emerging-market banking crises National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Crises boursières - Pays en voie de développement ram Taux d'intérêt - Pays en voie de développement ram Entwicklungsländer Financial crises Developing countries Interest rates Developing countries |
| title | Staying afloat when the wind shifts external factors and emerging-market banking crises |
| title_auth | Staying afloat when the wind shifts external factors and emerging-market banking crises |
| title_exact_search | Staying afloat when the wind shifts external factors and emerging-market banking crises |
| title_full | Staying afloat when the wind shifts external factors and emerging-market banking crises Barry Eichengreen ; Andrew K. Rose |
| title_fullStr | Staying afloat when the wind shifts external factors and emerging-market banking crises Barry Eichengreen ; Andrew K. Rose |
| title_full_unstemmed | Staying afloat when the wind shifts external factors and emerging-market banking crises Barry Eichengreen ; Andrew K. Rose |
| title_short | Staying afloat when the wind shifts |
| title_sort | staying afloat when the wind shifts external factors and emerging market banking crises |
| title_sub | external factors and emerging-market banking crises |
| topic | Crises boursières - Pays en voie de développement ram Taux d'intérêt - Pays en voie de développement ram Entwicklungsländer Financial crises Developing countries Interest rates Developing countries |
| topic_facet | Crises boursières - Pays en voie de développement Taux d'intérêt - Pays en voie de développement Entwicklungsländer Financial crises Developing countries Interest rates Developing countries |
| url | http://papers.nber.org/papers/w6370.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT eichengreenbarry stayingafloatwhenthewindshiftsexternalfactorsandemergingmarketbankingcrises AT roseandrew stayingafloatwhenthewindshiftsexternalfactorsandemergingmarketbankingcrises |