The persistence of capital account crises

The persistence of capital account crises / prepared by Mauro Mecagni, Ruben Atoyan, David Hofman.

This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second, we...

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Bibliographic Details
Main Authors: Mecagni, Mauro (Author), Atoyan, Ruben (Ruben V.) (Author), Hofman, David (David J. V.) (Author)
Corporate Author: International Monetary Fund. Strategy, Policy, and Review Department
Format: eBook
Language:English
Published: [Washington, DC] : International Monetary Fund, ©2009.
Series:IMF working paper ; WP/09/103.
Subjects:
Financial crises.
Capital movements.
Capital movements
Financial crises
Online Access:Click for online access
Table of Contents:
  • I. Introduction; II. Conceptual Framework and Methodology; A. Crisis Persistence, Complexity, and Macroeconomic Effects; Figures; 1. Average Duration and Crisis Complexity; Tables; 1. Duration and Nature of Crises; 2. Crisis Complexity, Duration, and Macroeconomic Costs; B. Determinants of the Duration of Crises; 3. Post-Crisis Vulnerabilities; C. Econometric Methodology; III. Persistence of Capital Account Crises; A. Estimation Results and Robustness Tests; 2. Estimation Results for the Capital Account Crises Duration Model; Boxes; 1. Some Further Diagnostic Results
  • B. Counterfactual Experiments3. Descriptive Statistics for the Model Variables; 4. Predicted Probabilities of Staying in Crisis under Different Scenarios; 5. Increase in Predicted Probability of Exit from Crisis under Various Scenarios; 6. Reduction in Predicted Crisis Duration under Various Scenarios; IV. Conclusions; Appendices; 1. Measuring the Duration of Capital Account Crises; 2. A Model for the Duration of Capital Account Crises; References

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