Empirical Assessment of Two Traditional Models for the Asian Currency Crisis

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概要

• 論文の詳細を見る

• This paper examines empirically which of the first or the second generation models is more convincing in accounting for the Asian currency crisis. We construct a regression model with both fundamentals and changes in expectations by news together. We found that, in Thailand, Korea and Indonesia, a growth rate of domestic credit, as a proxy for deterioration of fundamentals, and the "news", as a proxy for a shift in expectations, has a reasonably convincing explanatory power for the currency crisis. On the other hand, in the rest of our sample countries, the latter is reasonably convincing in explaining the crisis.

• 早稲田大学の論文

著者

• Kitamura Yoshihiro

  School Of Political Science & Economics Waseda University

• Akiba Hiroya

  School of Political Science & Economics Waseda University

• Iida Yukihiro

  School of Political Science & Economics Waseda University

• Sato Ayano

  Graduate School of Economics Waseda University

• Kitamura Yoshihiro

  Graduate School of Economics Waseda University

• Iida Yukihiro

  School Of Political Science & Economics Waseda University

• Akiba Hiroya

  School Of Political Science & Economics Waseda University

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• Empirical Assessment of Two Traditional Models for the Asian Currency Crisis

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