Lessons from the Tequila Crisis
نویسنده
چکیده
This paper draws several important lessons from the Tequila Crisis of 1994 and 1995. The overriding lesson is that the dynamics of ®nancial crises in emerging market countries dier from those in industrialized countries because institutional features of their debt markets dier. Several policy lessons for emerging market countries also emerge from the analysis: (1) pegged exchange-rate regimes are extremely dangerous, (2) strong prudential supervision of the banking system is critical for prevention of ®nancial crises, (3) ®nancial liberalization must be managed extremely carefully and (4) dierent policies are needed to promote recovery in emerging market countries than those that are applicable to industrialized countries. Ó 1999 Elsevier Science B.V. All rights
منابع مشابه
Foreign and Domestic Bank Participation in Emerging Markets: Lessons from Mexico and Argentina
ver the past decade, numerous financial systems have opened up to direct foreign participation through the ownership of local financial institutions, frequently as a direct consequence of—and as a perceived solution to—financial crises. Significant increases in such foreign participation have characterized the transition experience of Eastern Europe and the post–Tequila Crisis period in Latin A...
متن کاملThe Relationship between default and economic cycle for retail portfolios across countries: identifying the drivers of economic downturn
In this article, we collect consumer delinquency data from several economic shocks in order to study the creation of stress test models. We leverage the Dual-time Dynamics modeling technique to better isolate macroeconomic impacts whenever vintage-level performance data is available. The stress test models follow a framework described here of focusing on consumer-centric macroeconomic variables...
متن کاملLessons Learned from the Lorestan Flood Crisis: Relief Experience in Pol-e-Dokhtar Flood
This article has no abstract.
متن کاملThe Asian Financial Crisis and Proposals for Reform of International Financial Architecture1
The recent financial crises starting from one country (e.g. Mexico in 1994, Thailand in 1997) and spreading as a contagion to others (i.e. the ’tequila’ effect of the Mexican crisis on Argentina and other Latin American countries, the spread to Malaysia, Indonesia, Hong Kong, Korea, Singapore and Taiwan of the Thai crisis, the rapid spread of financial instability after the Russian crisis in th...
متن کاملLessons Learned from the AIDS Crisis in Lordegan, Iran in 2019
AIDS is an acquired immunodeficiency syndrome caused by the HIV virus (1, 2). AIDS is amongst the major challenges of the health system in all countries. This health challenge has spread to all countries as well as to all age groups, especially the 25-34 age group. The probability of transmission of AIDS ranges from 70% by blood transfusion to 30% by sexual intercourse, mother-to-child transmis...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 1999