Recent
Academic Research on Currency Collapse Models and the Asian Crisis
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Summer
Camp in International Economics and Finance Buenos Aires, August 16-19,1999,
Invitation and Call for Papers
Call
For Papers Pacific Basin Finance Journal Special issue on: The Crisis in
Asian Banking, Currencies, and Stock Markets
Conference on Capital Flows, Financial Crises, and Policies, April 15-16, 1999,
sponsored by The World Bank, International Monetary Fund, and the
World Trade Organization
World Bank - Brookings conference on the Crisis in Emerging Markets, March 26-27, 199 (Online Videos of Conference Proceedings)
Conference
on U.S.- China relations on April 17, 1999 at Harvard University
September 8, 1999 -- IMF's International Capital Markets 1999
September 22, 1999 -- IMF's World Economic Outlook
Global Trade Negotiations Home Page
Financial Sector Research Conferences (World Bank)
Interest Bearing Notes Home Page (World Bank)
WB/IMF/Brookings Forum- Corporate and Bank Restructuring March 2000
NBER Conference 02/05/99 Analytic Models of Currency Crisis
NBER Conference 02/06/99 Japan Project Meeting
NBER Conference 03/19/99 IFM Program Meeting
NBER Conference 03/26/99 - 03/27/99 Macro Annual
NBER Conference 04/22/99 Currency Crises: Thailand
NBER Conference 05/06/99 Currency Crises: Lessons From Mexico
NBER Conference 06/18/99 - 06/19/99 ISOM
NBER Conference 6/27/99 - 06/30/99 China Conference
7/12/99- 7/15/99 NBER Summer Institute IFM
12/16/99- 12/17/99 NBER/CEPR/TCER Conference
SALIDA
Asian Crisis Related Papers:
"What Caused the Asian Currency and Financial Crisis? Part I : A Macroeconomic Overview" by Nouriel Roubini, Giancarlo Corsetti and Paolo Pesenti (revised version, September 1998) (the file is in PDF format ; you need the Acrobat Reader to read it)
"What Caused the Asian Currency and Financial Crisis? Part II: The Policy Debate" by Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini (revised version, September 1998)
"Paper Tigers? A Model of the Asian Crisis" by Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini (revised December 1998) (the file is in PDF format)
"Fundamental Determinants of the Asian Crisis: A Preliminary Assessment" by Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini (November 1998)
Trade and Contagious Devaluations: A Welfare-Based Approach by Giancarlo Corsetti, Paolo Pesenti, Nouriel Roubini and Cedric Tille (revised December 1998)
Analytical
afterthoughts on the Asian crisis by Paul Krugman 9/12/99
Balance sheets, the transfer problem, and financial crises by Paul Krugman (12/98)
Self-Protection for Emerging Market Economies by Martin Feldstein NBER Working Paper No. 6907 (1/99)
Contagion In Emerging Markets: when Wall Street is a carrier (Technical Supplement to "Understanding the Russian Virus") by Guillermo Calvo (1/99)
1999 Economic Report of the President (See Chapter 6: Capital Flows in the Global Economy and Chapter 7: The Evolution and Reform of the International Financial System) (February 1999) (PDF file)
Steven
Radelet and Jeffrey Sachs, "What have we learned, so far, from the East Asian Financial Crisis?" (1/99)
Currency
Crises by Paul Krugman (10/97)
"The
Onset of the East Asian Financial Crisis" by Steve Radelet and Jeffrey Sachs (3/98)
"What
Happened to Asia?" by Paul Krugman (Jan 1998)
World Bank. East Asia: The Road to Recovery (10/98)
IMF's
Analysis of the Asian Crisis (December 1997)
"Financial Crises in Emerging Markets: A Canonical Model" by Roberto Chang and Andres Velasco NBER Working Paper No. 6606, June 1998
A Simple Model of Monetary Policy and Currency Crisis by Philippe Aghion, Philippe Bachetta and Abhijit Banerjee (9/99)
"Fire-sale"
FDI by Paul Krugman
"The Global Capital Market: Benefactor or Menace?" by Maurice Obstfeld NBER Working Paper No. 6559, May, 1998
Volatility and Contagion in a Financially-Integrated World: Lessons from East Asia¼s Recent Experience
by Pedro Alba, Amar Bhattacharya, Stijn Claessens, Swati Ghosh, and Leonardo Hernandez (8/98)
Are Currency Crises Predictable? A Test by Andrew Berg and Catherine Pattillo, IMF (12/98)
"Explaining
Currency Crises" by Gerardo Esquivel and Felipe Larrain (6/98)
Domestic Causes of Currency Crises: Policy Lessons for Crisis Avoidance by Helmut Reisen (OECD 6/98)
Hedge Funds and the Asian Currency Crisis of 1997 by William N. Goetzmann, Stephen J. Brown and James Park
Do foreign investors destabilize stock markets? The Korean experience in 1997 by Hyuk Choe, Bong-Chan Kho, and René M. Stulz, June 1998
Asset Bubbles, Domino Effects and åLifeboats¼: Elements of the East Asian Crisis by Hali J. Edison, Pongsak Luangaram, and Marcus Miller
"The
East Asian Financial Crisis: Diagnosis, Remedies, Prospects." by Steven Radelet and Jeffrey Sachs (4/98)
The Asian Financial Crisis: Causes, Cures, and Systemic Implications by Morris Goldstein (6/98)
The
Asian Liquidity Crisis by Roberto Chang and Andres Velasco (July 1998)
Creditor
Panics: Causes and Remedies by Jeffrey Sachs (10/98)
"The Asian Crisis: Is there a Way out? Are the IMF Prescriptions Right? by W. Max Corden
East Asia in Crisis: From being a miracle to needing one? book edited by Ross Garnaut and Ross McLeod (11/98)
The Crisis in Asia: an Empirical Assessment by Warwick McKibbin
Before the Fall: Were East Asian Currencies Overvalued? by Menzie Chinn
Was China the First Domino? Assessing Links between China and the Rest of Emerging Asia by John G. Fernald, Hali J. Edison, and Prakash Loungani
"Asian Competitive
Devaluations" by Ligang Liu, Marcus Noland, Sherman Robinso and Zhi Wang
The
East Asian Crisis: Investigating Causes and Policy Responses by Warwick McKibbin and Will Martin (September 1998)
Ronald McKinnon: Exchange Rate Coordination for Surmounting the East Asian Currency Crises (8/98)
Is There a Credit Crunch in East Asia? by Wei Ding, Ilker Domaç, and Giovanni Ferri
The East Asia Crisis Papers from a Workshop at the Institute of Development Studies (7/98)
Ronald I. McKinnon and Huw Pill -- International Overborrowing: A Decomposition of Credit and Currency Risks
The Korean Financial Crisis of 1997-1998 by Irma Adelman and Song Byung Nak (8/98)
Which
Capitalism? Lessons from the East Asian Crisis by Luigi Zingales and Raghuram G. Rajan, (9/98)
TFPG Controversies,
Institutions, and Economic Performance in East Asia by Dani Rodrik NBER Working Paper No. 5914, February 1997
Prospective Deficits and the Asian Currency Crisis by Burnside, Eichenbaum and Rebelo
(10/98)
The Economic Miracle in a Haze by Manuel F. Montes
Sequencing
Capital Account Liberalization - Lessons from the Experiences in Chile, Indonesia, Korea, and Thailand by Johnston, R Barry, Darbar, Salim M and
Echeverria, Claudia; IMF Working Paper
SALIDA
Developments in East Asia and their implications for the UK and Europe by Ray Barrell and Nigel Pain
Currency Crises: Is Asia Different? by Markus Diehl and Rainer Schweickert
The continuing Asian Financial Crisis: Global Adjustment and Trade by Marcus Noland, Sherman Robinson and Zhi Wang (1/99)
Speculative
Capital Inflows and Exchange Rate Targetting in the Pacific Basin: Theory and Evidence by Ken Kletzer and Mark Spiegel, (9/96)
Current Account
Sustainability: Selected East Asian and Latin American by Gian Maria Milesi-Ferretti and Assaf Razin; NBER Working Paper No. 5791
Exorcising Asian Debt: Lessons from Latin American Rollovers, Workouts, and Writedowns by Vinod K. Aggarwal
Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation--with Reference to the Asian Financial Crisis
by
Jorge A. Chan-Lau and Zhaohui Chen (IMF August 1998)
The East Asian Financial Crises: An Analytical Survey by Pablo Bustelo (10/98)
The
Global Financial Crisis: a "Centre for the Study of Globalisation and Regionalisation" Perspective
"Contagion, Monsoons, and Domestic Turmoil in Indonesia: A Case Study in the Asian
Currency Crisis" by Valerie Cerra and Sweta Chaman Saxena (10/98)
"Monetary Policy in the Aftermath of Currency Crises: the Case of Asia" by Ilan Goldfajn and Taimur Baig (10/98)
The impact of the East Asian Crisis on Thailand, a Micro Survey Study by Gerard Adams
"Currency
Crisis in Korea: How Has It Been Aggravated?" by Daekeun Park and Changyong
Rhee
SALIDA
Empirical Papers on Currency Crises, External Imbalances
and Balance of Payments Crises:
A series of papers on currency crises and a monograph on the 1992-93 ERM Crisis by Willem Buiter, Giancarlo Corsetti and Paolo Pesenti from the homepage of Prof. Giancarlo Corsetti at Yale University
The
Twin Crises: The Causes of Banking and Balance-of-Payments Problems by Graciela Kaminsky and Carmen Reinhart
Financial Crises in Latin America: Then and Now by Graciella Kaminsky and Carmen Reinhart
Contagious Currency Crises by Barry Eichengreen, Andrew K. Rose and Charles Wyplosz; NBER Working Paper No. 5681
Leading Indicators of Currency Crises by Graciella Kaminsky, Saul Lizondo and Carmen Reinhart
The
Collapse of the Mexican Peso: What Have We Learned? by Jeffrey Sachs,
Aaron Tornell and Andres Velasco; NBER Working Paper No. 5142
Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System by Barry Eichengreen, Andrew K. Rose and Charles Wyplosz; NBER Working Paper No. 4898
Financial Crises in Emerging Markets: The Lessons from 1995 by Jeffrey Sachs, Aaron Tornell and Andres Velasco; NBER Working Paper No. 5576
"Crisis Management in Argentina during the 1994-95 Mexican Crisis: How Did Markets React?" by Eduardo J. J. Ganapolsky and Sergio L. Schmukler (7/98)
A Retrospective on the Debt Crisis by Michael P. Dooley; NBER Working Paper No. 4963
Sharp Reductions in Current Account Deficits: An Empirical Analysis by Milesi Ferretti, Gian Maria and Razin, Assaf; IMF Working Paper
Soft Exchange Rate Bands and Speculative Attacks: Theory, and Evidence from the ERM since August 1993 by Leonardo Bartolini and Alessandro Prati, IMF (12/98)
"Why Is 'The Market' So Unforgiving" by Guillermo A. Calvo
A Survey of Empirical Research on Nominal Exchange Rates by Jeffrey A. Frankel and Andrew K. Rose; NBER Working Paper No. 4865
Second Thoughts on Second Moments: Panel Evidence on Asset-Based Models of Currency Crises by Arturo J. Galindo and William F. Maloney (6/98)
The Aftermath of Appreciations by Ilan Goldfajn and Rodrigo O. Valdes; NBER Working Paper No. 5650
The Mexican Peso Crisis? How Much Did We Know? When Did We Know It? by Sebastian Edwards; NBER Working Paper No. 6334
The Morning After: The Mexican Peso in the Aftermath of the 1994 Currency Crisis by Sebastian Edwards and Miguel A. Savastano NBER Working Paper No. 6516
Empirical
Puzzles of Chilean Stabilization Policy by Guillermo A. Calvo and Enrique G. Mendoza
Whither the World Bank and the IMF? by Anne O. Krueger NBER Working Paper No. 6327
Are Currency Crises Predictable? by Goldfajn, Ilan and Valdes, Rodrigo O; IMF Working Paper
Currency Boards: The Ultimate Fix? by Ghosh, Atish R, Gulde, Anne-Marie and Wolf, Holger C; IMF Working Paper
Making
a Currency Board Operational by Enoch, Charles and Gulde, Anne Marie; IMF Working Paper
"Currency Crisis and Unemployment: Sterling in 1931" by Barry Eichengreen and Olivier Jeanne NBER Working Paper No. 6563, May 1998
SALIDA
Comments by T.N. Srinivasan on Jeff Sachs' views of Financial Crises
An Options-Based
Analysis of Emerging Market Exchange Rate Expectations: Brazil's Real Plan,
1994-1997 by Jose M. Campa, P.H. Kevin Chang and James F. Refalo NBER Working
Paper No. W6929 (2/99)
What Macroeconomic Policies Are "Sound?" by Mansoor Dailami and Nadeem ul Haque, World Bank (10/98)
SALIDA
Current Account Deficits and their Sustainability:
Sustainability of Persistent Current Account Deficits by Gian Maria Milesi-Ferretti and Assaf Razin; NBER Working Paper No. 5467
Current Account Sustainability: Selected East Asian and Latin American Experiences by Gian Maria Milesi-Ferretti and Assaf Razin; NBER Working Paper No. 5791
A paper I wrote (with Paul Wachtel) on currency and external balance problems in transition economies. We discuss the risks that the currency crisis will spread to Eastern Europe
Sustainable
and Excessive Current Account Deficits by Helmut Reisen (OECD 2/98)
Current
Accounts - What is Their Relevance for Economic Policymaking? by Malcom Knight and Fabio Scacciavillani (IMF Working Paper, 1998)
Current Account
Reversals and Currency Crises: Empirical Regularities by Gian Maria Milesi-Ferretti and Assaf Razin NBER WP #6620 (7/98)
Notes on Intertemporal Trade in Goods and Money by Rudi Dornbusch (7/98)
Recent G3 Current Account Imbalances: How Important are Structural Factors? by Richard Clarida and Joe Prendergast NBER Working Paper No. W6935 (2/99)
Current Accounts in Debtor and Creditor Countries by Aart Kraay and Jaume Ventura, World Bank (9/97)
SALIDA
Theoretical Studies and Models of Currency Collapse:
"Inflation Stabilization and BOP Crises in Developing Countries" by Guillermo A. Calvo and Carlos A. Vegh, NBER WP No. 6925 (2/99)
"Arbitrage
mechanism leading to currency crises: a theoretical perspective" by Lilia
Cavallari and Giancarlo Corsetti (paper in Postscript ps. format)
"Balance of Payment Crises In Emerging Markets" by Guillermo A. Calvo
"Varieties of Capital-Market Crises" by Guillermo A. Calvo
"Paper Tigers? A Preliminary Assessment of the Asian Crisis" by Nouriel Roubini, Giancarlo Corsetti and Paolo Pesenti (June 1998) (the file is in PDF format)
"Krugman Balance of Payments Crises: Are They for Real?'' by Carlos Vegh and Amartya Lahiri, November 1997
Models of Currency Crises with Self-Fulfilling Features by Maurice Obstfeld; NBER Working Paper No. 5285
Financial Fragility and the Exchange Rate Regime by Roberto Chang and Andres Velasco NBER Working Paper No. 6469
A Model of Crises in Emerging Markets by Michael P. Dooley; NBER Working Paper No. 6300
The Syndrome of Exchange-Rate-Based Stabilizations and the Uncertain Duration of Currency Pegs by Enrique G. Mendoza and Martín Uribe
The Operation and Collapse of Fixed Exchange Rate Regimes by Peter M. Garber, Lars E.O. Svensson; NBER Working Paper No. 4971
Devaluation Risk and the Syndrome of Exchange-Rate-Based Stabilizations by Enrique G. Mendoza and Martin Uribe NBER Working Paper No. W7014 (3/99)
Notes on Intertemporal Trade in Goods and Money by Rudi Dornbusch (7/98)
The Mirage of Fixed Exchange Rates by Maurice Obstfeld and Kenneth Rogoff ; NBER Working Paper No. 5191
Collapsing Exchange Rate Regimes: Another Linear Example by Robert P. Flood, Peter M. Garber and Charles Kramer; NBER Working Paper No. 5318
Speculative Attacks: Fundamentals and Self-Fulfilling Prophecies by Robert P. Flood and Nancy P. Marion; NBER Working Paper No. 5789
The Logic of Currency Crises by Maurice Obstfeld; NBER Working Paper No. 4640
Hot Money by V. V. Chari and Patrick Kehoe; NBER Working Paper No. 6007
Central Bank Vulnerability and the Credibility of Commitments - A Value-at-Risk Approach to Currency Crises by Mario I. Blejer, Mario and Liliana Schumacher, IMF Working Paper
The Volatility of the Relative Price of Commodities In Terms of Manufactures Across Exchange Regimes: A Theoretical Model by Liang Hong, IMF (12/98)
The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production by Michael B. Devereux and Charles Engel NBER Working Paper No. W6992 (3/99)
International Experiences with Different Monetary Policy Regimes by Frederic S. Mishkin NBER Working Paper No. W6965 (2/99)
The Distribution of Exchange Rate Volatility by Torben Anderson, Tim Bollerslev, Francis X. Diebold and Paul Labys NBER Working Paper No. W6961 (2/99)
SALIDA
Other papers on Asian Economies:
Issues in Korean Exchange Rate Policy by Stanley W. Black; NBER Working Paper No. 5747
Understanding China's Economic Performance by Jeffrey D. Sachs and Wing Thye Woo; NBER Working Paper No. 5935
"The U.S.-China Bilateral Trade Balance: Its Size and Determinants by Robert C. Feenstra,
Wen Hai, Wing T. Wood, and Shunli Yao NBER Working Paper No. 6598, June 1998
Export Credit Agencies, Trade Finance and South East Asia by Malcolm Stephens IMF Working Paper WP/98/175 (1/99)
Foreign Direct Investment, Trade and Real Exchange Rate Linkages in Southeast Asia and Latin America by Linda S. Goldberg and Michael W. Klein NBER Working Paper No. 6344
China's Trade Flows-Changing Price Sensitivies and the Reform Process by Valerie Cerra and Anuradha Dayal-Gulat, IMF Working Paper WP/99/1 (2/99)
In Search of Capital Crunch - Supply Factors Behind the Credit Slowdown in Japan by David Woo IMF Working Paper WP/99/3 (2/99)
The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates by Menzie David Chinn; NBER Working Paper No. 6108
The Yen and Its East Asian Neighbors, 1980-95: Cooperation or Competition? by Shinji Takagi; NBER Working Paper No. 5720
Growth and Productivity in ASEAN Countries by Michael Sarel IMF Working Paper WP/97/97
Economic Effects of the APEC Trade Liberalization analysis by CGE Model Simulations by Kenichi Kawasaki (6/98)
East Asian Growth Before and After the Crisis by Nicholas Crafts
East Asian Cooperation in Response to the Regional Crisis: A Case of Self-help or no Help? by Chang Li lin and Ramkishen S. Rajan (1/99)
The impact of the East Asian Crisis on Thailand, a Micro Survey Study by Gerard Adams and Heidi Vernon (1988)
SALIDA
International Capital Mobility and Financial Fragility:
International
Capital Markets Developments, Prospects, and Key Policy Issues; IMF
November 1997
Understanding Financial Crises: A Developing Country Perspective by Frederic S. Mishkin; NBER Working Paper No. 5600
The
Twin Crises: The Causes of Banking and Balance-of-Payments Problems by Graciela L. Kaminsky and Carmen M. Reinhart
Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises by Barry Eichengreen and Andrew K. Rose; NBER Working Paper No. 6370
"Foreign Portfolio Investors Before and During a Crisis" by Woochan Kim and Shang-Jin Wei NBER WP No. 6968 (2/99)
Globalized
Financial Markets and Financial Crises by Charles Wyplosz (3/98)
"Financial Crises in Emerging Markets: A Canonical Model" by Roberto Chang and Andres Velasco NBER Working Paper No. 6606, June 1998
Rational
Herd Behavior and the Globalization of Securities Markets by Guillermo A. Calvo and Enrique G. Mendoza
Capital Flows to Emerging Markets: Liberalization, Overshooting, and Volatility by Philippe
Bacchetta and Eric van Wincoop NBER Working Paper No. 6530
Country Funds and Asymmetric Information by Jeffrey A. Frankel and Sergio L. Schmukler, World Bank (2/98)
Financial
Liberalization and Financial Fragility by Asli Demirguc-Kunt and Enrica Detragiache IMF Working Paper WP/98/83, 1998
Capital Inflows into Latin America: A Stop-Go Story? by Sebastian Edwards NBER Working Paper No. 6441
"Do Depositors Punish Banks for "Bad" Behavior? Market Discipline in Argentina, Chile, and Mexico" by Maria Soledad Martinez Peria and Sergio L. Schmukler, World Bank (2/99)
Volatility and Financial Intermediation by Joshua Aizenman and Andrew Powell NBER Working Paper No. 6320
Foreign Speculators and Emerging Equity Markets by Geert Bekaert and Campbell R. Harvey; NBER Working Paper No. 6312
Risks to Lenders and Borrowers in International Capital Markets" by Benjamin E. Hermalin and Andrew K. Rose, NBER WP # 6886 (1/99)
What Will Technology Do to Financial Structure? by Fredric S. Mishkin and Philip E. Strahan NBER Working Paper No. 6892 (1/99)
Fixed-Income
Markets in the United States, Europe, and Japan-Some Lessons for Emerging Markets by Garry Schinasi and Todd Smith IMF Working Paper WP/98/173 (1/99)
Offshore
Banking-An Analysis of Micro- and Macro-Prudential Issues by Luca Errico IMF Working Paper WP/99/5 (2/99)
Flight Capital as a Portfolio Choice by Paul Collier, Anke Hoeffler and Catherine Pattillo, World Bank (2/99)
Does a Thin Foreign Exchange Market Lead to Destabilizing Capital-Market Speculation in the Asian Crisis Countries? by Hong G. Min and Judith A. McDonald, World Bank (2/99)
Dynamic Capital Mobility, Capital Market Risk, and Exchange Rate Misalignment: Evidence from Seven Asian Countries by Hong G. Min, World Bank (2/98)
The Real Impact of Financial Shocks: Evidence from the Republic of Korea by Ilker Domaç and Giovanni Ferri, World Bank (11/98)
International
Capital Flows and National Creditworthiness-Do the Fundamental Things Apply as Time Goes By? by Paul Cashin and John McDermott IMF Working Paper
WP/98/172 (1/99)
Have the Markets Gone Crazy?: The Brazilian and Other Currency Crises of the 1990s by Ramkishen S. Rajan (1/99)
Does Mercosur Need a Single Currency? by Barry Eichengreen NBER WP #6821 (12/98)
Risk Management of Sovereign Assets and Liabilities by Cassard, Marcel and Folkerts-Landau, David; IMF Working Paper
The Prudential Regulation and Management of Foreign Exchange Risk by Richard K. Abrams and Paulina Beato IMF Working Paper
Betting Against The State: Socially Costly Financial Engineering by Guillermo
Calvo (7/98)
Transparency
in Central Bank Operations in the Foreign Exchange Market by Charles Enoch, IMF Working Paper
"Local Return Factors and Turnover in Emerging Stock Markets" by Geert Rouwenhorst
(11/98)
Capital Flows to Central and Eastern Europe and the Former Soviet Union by Stijn Claessens, Daniel Oks, and Rossana Polastri (9/98)
Does the Introduction of Futures on Emerging Market Currencies Destabilize the Underlying Currencies? by Christian Jochum and Laura Kodres, IMF Working Paper
Transformations to Open Market Operations: Developing Countries and Emerging Markets by Stephen H. Axilrod (IMF)
Does
Exchange Rate Stability Increase Trade and Capital Flows? by Philippe Bacchetta
and Eric van Wincoop (7/98)
Capital Flows with Debt- and Equity-Financed Investment-Equilibrium Structure and Efficiency Implications by Assaf Razin, Efraim Sadka and Chi-Wa Yuen, IMF (12/98)
Stock Market Crises in Developed and Emerging Markets by Sandeep Patel and Asani Sarkar (4/98)
Bank Capital and Portfolio Management: The 1930's Capital Crunch and Scramble to Shed Risk by Charles W. Calomiris and Berry Wilson NBER WP #6649
(7/98)
Capital Movements,
Asset Values, and Banking Policy in Globalized Markets by Edward J. Kane NBER WP #6633 (7/98)
Corporate Ownership Around the World by Rafael La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer NBER WP #6625 (7/98)
Comparing Capital Mobility Across Provincial and National Borders by John F. Helliwell and Ross McKitrick NBER WP #6624 (7/98)
Derivatives in International Capital Flow by Peter M. Garber NBER WP #6623 (7/98)
Volatility and the Welfare Costs of Financial Integration by Pierre-Richard Agenor and Joshua Aizenman NBER WP #6782 (11/98)
Impacts of the Basle Capital Standard on Japanese Banks' Behavior by Takatoshi Ito and Yuri Nagataki Sasaki NBER WP #6730 (10/98)
Global Diversification, Growth and Welfare with Imperfectly Integrated Markets for Goods by Bernard Dumas and Raman Uppal NBER Working Paper No. 6994 (3/99)
SALIDA
Studies of Contagion:
Trade and Contagious Devaluations: A Welfare-Based Approach by Giancarlo Corsetti, Paolo Pesenti, Nouriel Roubini and Cedric Tille (revised December 1998)
Contagion and Trade: Why Are Currency Crises Regional? by Reuven Glick and Andrew K. Rose NBER WP #6806 (11/98)
Measuring Stock Market Contagion: Conceptual Issues and Empirical Tests by Kristin Forbes and Roberto Rigobon (8/98)
Volatility and Contagion in a Financially Integrated World: Lessons from East Asia's Recent Experience by Pedro Alba, Amar Bhattacharya, Stijn Claessens, Swati Gosh, and Leonardo Hernandez (11/98)
Understanding
The Russian Virus (with special reference to Latin America) by Guillermo Calvo (10/98)
Contagion, Bank Lending Spreads and Output Fluctuations by P.R. Agenor, J. Aizenman and A. Hoffmaister NBER WP #6850 (12/98)
The Channels for Financial Contagion, Matt Pritsker
Crisis Transmission: Evidence from the Debt, Tequila, and Asian Flu Crises, Jose De Gregorio, and Rodrigo O. Valdes.
Financial Contagion in the East Asian Crisis-With Special Reference to the Republic of Korea, Yung Chul Park and Chi-Young Song
Financial Contagion: Spillovers through Banking Centers, Caroline Van Rijckeghem and Beatrice Weder
International Contagion: Implications for Policy, Roberto Chang and Giovanni Majnoni, October 1999.
The International Transmission of Financial Crises before World War II: Was there Contagion?Michael D. Bordo and Antu P. Murshid, November 1999.
Looking for Contagion: Evidence from the 1992 ERM Crisis, Carlo A. Favero and Francesco Giavazzi
Measuring Contagion: Conceptual and Empirical Issues, Kristin Forbes and Roberto Rigobon
The Portfolio Flows of International Investors, I, Kenneth A. Froot, Paul G. J. O¼Connell, Mark S. Seasholes
Thai Meltdown and Transmission of Recession within ASEAN4 and NIE4, Tilak Abeysinghe
On the Measurement of Contagion by Roberto Rigobon (12/98)
No Contagion, Only Interdependence: Measuring Stock Market Co-movements by Kristin Forbes and Roberto Rigobon (11/98)
Was China the First Domino? Assessing Links between China and the Rest of Emerging Asia by John G. Fernald, Hali J. Edison, and Prakash Loungani
Crises,
Contagion, and the Closed-End Country Fund Puzzle by Eduardo Levy Yeyati and Angel Ubide, IMF (9/98)
Financial
Market Contagion in the Asian Crisis by Taimur Baig and Ilan Goldfajn, IMF (12/98)
Emerging Market Crises: An Asset Markets Perspective by Ricardo J. Caballero and Arvind Krishnamurthy NBER WP #6843 (12/98)
Interest Rate Volatility, Capital Controls, and Contagion by Sebastian Edwards NBER Working Paper No. 6756 (10/98)
"Contagion, Monsoons, and Domestic Turmoil in Indonesia: A Case Study in the Asian
Currency Crisis" by Valerie Cerra and Sweta Chaman Saxena (10/98)
Contagion-Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria by Paul Masson (IMF 10/98)
Crises,
Contagion, and the Closed-End Country Fund Puzzle by Eduardo Levy Yeyati and Angel Ubide (IMF 10/98)
Does Financial Reform Increase or Reduce Savings? by Oriana Bandiera, Gerard Caprio, Jr., Patrick Honohan, and Fabio Schiantarelli (2/99)
Diversification and Efficiency of Investment by East Asian Corporations by Stijn Claessens, Simeon Djankov, Joseph P. H. Fan, and Harry H. P. Lang (2/98)
Capital Inflow Reversals, Banking Stability, and Prudential Regulation in Central and Eastern Europe by Samuel Talley, Marcelo M. Giugale, and Rossana Polastri, World Bank (12/98)
Corporate Growth, Financing, and Risks in the Decade before East Asia's Financial Crisis by Stijn Claessens, Simeon Djankov, and Larry Lang (11/98)
Banking on Crises: Expensive Lessons from Recent Financial Crises by Gerard Caprio, Jr., World Bank (9/98)
SALIDA
Capital Account Liberalization and The Role of Capital Controls:
Temporary Capital Controls by Carmen Reinhart and Todd Smith
Too
Much of a Good Thing: The Macroeconomic Effects of Taxing Capital Inflows by Carmen Reinhart and Todd Smith
Exchange and Capital Controls as Barriers to Trade by Natalia Tamirisa IMF Working Paper WP/98/81, 1998
IMF: 1998 International Capital Markets: Developments, Prospects, and Key Policy Issues (9/98)
Capital
Controls: Capital Idea or Capital Folly? by Barry Eichengreen (11/98)
"Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors? by Joshua Aizenman and Stephen J. Turnovsky, NBER WP. No. 7004 (3/99)
Why Do Countries Use Capital Controls? by Barry Johnston and Natalia Tamirisa IMF Working Paper WP/98/181 (1/99)
Developing
Countries and the Globalization of Financial Markets by Malcolm Knight IMF Working Paper (8/98)
Offshore
Banking-An Analysis of Micro- and Macro-Prudential Issues by Luca Errico IMF Working Paper WP/99/5 (2/99)
The Real Impact of Financial Shocks: Evidence from the Republic of Korea by Ilker Domaç and Giovanni Ferri, World Bank (11/98)
Sequencing
Capital Account Liberalizations and Financial Sector Reform by Barry Johnston
(IMF 8/98)
Capital Flows, Real Exchange Rates, and Capital Controls: Some Latin American Examples by Sebastian Edwards NBER WP #6800 (11/98)
Interest Rate Volatility, Capital Controls, and Contagion by Sebastian Edwards NBER Working Paper No. 6756 (10/98)
Sequencing
Capital Account Liberalization - Lessons from the Experiences in Chile, Indonesia, Korea, and Thailand by Johnston, R Barry, Darbar, Salim M and
Echeverria, Claudia; IMF Working Paper
Capital Account Liberalization in the Southern Mediterranean Region by Saleh Nsouli and Mounir Rached (IMF 10/98)
Restraints on Capital Flows: What Are They? by Ramkishen S. Rajan (9/98)
Sand in the Wheels of International Finance: Revisiting the Debate in Light of the East Asian Mayhem by Ramkishen S. Rajan (10/98)
SALIDA
Hedge Funds, Derivatives and Systemic Risk:
September 29, 1999 -- Hedge
Funds: What Do We Really Know? by Barry Eichengreen and Donald Mathieson,
IMF.
Hedge
Funds and Financial Market Dynamics by Barry Eichengreen and Donald Mathieson IMF Occasional Paper No 166
IMF
Analysis of Hedge Funds (from Chapter 1 of the May 1998 World Economic Outlook; see pages 4-5)
Hedge Funds and the Asian Currency Crisis of 1997 by William N. Goetzmann, Stephen J. Brown and James Park
Derivatives in International Capital Flow by Peter M. Garber NBER WP #6623 (7/98)
Stephen J. Brown, William N. Goetzmann, Roger G. Ibbotson "Offshore Hedge Funds: Survival and Performance 1989-1995" NBER WP #5909 (1/97)
Foreign
SALIDA