Risks for the Emerging Markets in Central and Eastern Europe on the Background of the Experiences of Thaiiand, Mexico and the Czech Republic,

Abstract

This present paper studies the reasons for financial market crises on the background of recent examples of Thailand, Mexico and the Czech Republic. We are interested to identify risky constellations for emerging markets. As a model, we have chosen the approach of Sachs/Tomell/Velasco (1996), which we have modified and extended by incorporating credit rationing and limited liability aspects. From this thinking, we have derived indicators for the prediction of financial market crises. We have calculated the indicators for the cases of Thailand, Mexico and the Czech Republic.

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Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1999
Accession Number
ADA370596

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  • Friedrich L. Sell

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