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Stories of the twentieth century for the twenty-first

By:

Gourinchas, Pierre-Olivier

Material type: Text

TextPublication details: 2012Action note:

2/16/12 SANDRAW

Summary: States that a key precursor of 20th century financial crises in emerging and advanced economies alike was the rapid buildup of leverage. Notes that analysis using 1973-2010 data suggests domestic credit expansion and real currency appeciation have been the most robust and significant predictors of financial crises, regardless of the state of the economy. Continues that for emerging economies, higher foreign exchange reserves predict a sharply reduced probability of a subsequent crisis.

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Holdings
Item type	Current library	Call number	Status	Barcode
Analytic	CARICOM Documentation Centre	Serial (Browse shelf(Opens below))	Available	0000000029425

States that a key precursor of 20th century financial crises in emerging and advanced economies alike was the rapid buildup of leverage. Notes that analysis using 1973-2010 data suggests domestic credit expansion and real currency appeciation have been the most robust and significant predictors of financial crises, regardless of the state of the economy. Continues that for emerging economies, higher foreign exchange reserves predict a sharply reduced probability of a subsequent crisis.

2/16/12 SANDRAW

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