Twin crises and the intermediary role of banks

International Journal of Finance and Economics

Volumn 4, Issue 4, 1999, Pages 313-323

  Buch, Claudia M ^a   Heinrich, Ralph P ^a  

^a KIEL INSTITUTE FOR THE WORLD ECONOMY   (Germany)

Author keywords

Asia; Balance of payment crises; Banking crises; Mexico; Speculative attack; Transition economies

Indexed keywords

BALANCE OF PAYMENTS; BANKING; FINANCIAL CRISIS;

ASIA; MEXICO;

EID: 0032734038     PISSN: 10769307     EISSN: None     Source Type: Journal    
DOI: 10.1002/(SICI)1099-1158(199910)4:4<313::AID-IJFE111>3.0.CO;2-Y     Document Type: Article

References (33)

1. Agénor, P.-R., Bhandari, J.S. and Flood, R.P., 'Speculative Attacks and Models of Balance of Payment Crises', IMF Staff Papers, 39 (1992), 357-94.
2. Banco Central de Chile, http://www.bcentral.cl, update June 30, 1998.
3. Bank for International Settlements, The Maturity, Sectoral and Nationality Distribution of International Bank Lending. Various Issues, Basle.
4. Bank for International Settlements, The Maturity, Sectoral and Nationality Distribution of International Bank Lending. Second Half 1995, Basle, June, 1996.
5. Bank for International Settlements, Annual Report 1996, vol. 67, Basle, 1997.
6. Bank for International Settlements, Consolidated International Banking Statistics for End-1997, May, Basle, 1998.
7. Bernanke, B., Gertler, M. and Gilchrist, S., "The Financial Accelerator and the Flight to Quality', NBER Working Paper 4789, Cambridge MA, 1994.
8. Buch, C.M., Creating Efficient Banking Systems: Theory and Evidence from Eastern Europe, Kiel Institute of World Economics, Kieler Studien 277, Tübingen: J.C.B. Mohr, 1996.
9. Buch, C.M. and Heinrich R.P., "The End of the Czech Miracle?: Currency Crisis Reveals Need for Institutional Reforms', Kiel Institute of World Economics, Kiel Discussion Paper 301, 1997.
10. Buch, C.M. and Heinrich R.P., 'Banking and Balance of Payments Crises-On Possible Causes of the Twin Crises', Kiel Institute of World Economics, Working Paper 848, Kiel, 1998.
11. Buiter, W.H., 'Borrowing to Defend the Exchange Rate and the Timing and Magnitude of Speculative Attacks', Journal of International Economics, 23 (1987), 221-39.
12. Calvo, G.A., 'Varieties of Capital-Market Crises', Inter-American Development Bank, Working Paper No. 306, Washington, DC, 1995.
13. Chote, R., 'Financial Crises: The Lessons of Asia', in Centre for Economic Policy Research (CEBR) (Ed.), Financial Crises and Asia, CEPR Conference Report No. 6, London, 1998, 1-34.
14. Dekle, R. and Pradhan, M., 'Financial Liberalization and Money Demand in ASEAN Countries: Implications for Monetary Policy', International Monetary Fund, Working Paper, No. 97/36, Washington DC, 1997.
15. Demirgüc-Kunt, A. and Detragiache, E., "The Determinants of Banking Crises: Evidence from Developing and Developed Countries', International Monetary Fund, Working Paper No. 97/106, Washington DC, 1997.
16. Deutsche Bank Research, The Cost of Bank Recapitalization. Asia Economics Weekly, 22 May (1998), http:// www.deutsche-bank.de/dbr/
17. Flood, R.P. and Garber, P.M., 'Collapsing Exchange-Rate Regimes. Some linear examples,' Journal of International Economics, 17 (1984), 1-13.
18. Goldfajn, I. and Valdés, R.O., 'Capital Flows and the Twin Crises: The Role of Liquidity', International Monetary Fund, Working Paper No. 97/87, Washington DC, 1997.
19. International Monetary Fund, International Financial Statistics (IFS), CD-Rom, Washington DC, 1998.
20. Kaminsky, G.L. and Reinhard, C.M., "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems', International Finance Discussion Papers, 544, Board of Governors of the Federal Reserve System, 1996.
21. Krugman, P.R., 'A Model of Balance-of-Payment Crises', Journal of Money, Credit, and Banking, 11 (1979), 311-25.
22. Krugman, P.R., What Happened to Asia?, January 9 (1998), http://web.mit.edu/krugman/www/DISINTER.html
23. McKinnon, R.I. and Pill, H., 'Credible Liberalizations and International Capital Rows: The "Over-Borrowing Syndrome"', Center for Economic Policy Research, Policy Paper No. 437, Stanford University, Stanford, CA, 1995.
24. Miller, V., 'Speculative Currency Attacks with Endogenously Induced Commercial Bank Crises', Journal of International Money and Finance, 15 (1996), 383-403.
25. Miller, V., "The Double Drain with a Cross-Border Twist: More on the Relationship Between Banking and Currency Crises', American Economic Review, 88 (1998), 439-43.
26. Mishkin, P.S., 'Understanding Financial Crises: A Developing Country Perspective', in M. Bruno and B. Pleskovic (Eds), Annual World Bank Conference on Development Economics 1996, Washington DC, 1997, 29-62.
27. OECD, Bank Profitability - Financial Statements of Banks, Update on CD-Rom, Paris, 1997.
28. Obstfeld, M., 'Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments', Canadian Journal of Economics, 29 (1986), 1-22.
29. Obstfeld, M., "The Logic of Currency Crises', National Bureau of Economic Research (NBER), Working Paper No. 4640, Cambridge, MA, 1994.
30. Ortiz Martinez, G., 'What Lessons Does the Mexican Crisis Hold for Recovery in Asia?', Finance and Development, 35 (1998), 6-9.
31. Standard & Poor, Credit Week, 5 March, 1997.
32. Standard & Poor, Global Ratings Handbook, March, 1998.
33. Velasco, A., 'Financial Crises and Balance of Payments Crises, A Simple Model of the Southern Cone Experience', Journal of Development Economics, 27 (1987), 263-83.