کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5083927 | 1477821 | 2012 | 13 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
External vulnerability, balance sheet effects, and the institutional framework - Lessons from the Asian crisis
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
This study tests the balance sheet approach of “third-generation” explanations of external crises in emerging markets, looking in particular at the 1997-98 Asian crisis. Using unique datasets, we find that corporate sector balance sheets, macroeconomic balance sheets, and the legal environment have a significant impact on the likelihood of external crises, and some of which also on the depth of crises. These indicators supplement, rather than substitute, the traditional macroeconomic variables. Predictions point to potentially large improvements in the predictive power of models that include these indicators. The results highlight the importance of sound financial structures and institutional framework, alongside prudent macro policies, in limiting external vulnerability.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 21, Issue 1, January 2012, Pages 16-28
Journal: International Review of Economics & Finance - Volume 21, Issue 1, January 2012, Pages 16-28
نویسندگان
Christian Mulder, Roberto Perrelli, Manuel Duarte Rocha,