Goryunova N.P. - Financial Crises in Emerging Markets
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Goryunova N.P. Financial Crises in Emerging Markets / N.P. Goryunova, P.A. Minakir; Rus. Acad. Sci., Far-East. Branch. - М.: Nauka, 2006. - 215 p. |
The monograph deals with the theory and methods of measurement and monitoring of crisis situations in exchange markets and banking systems in developing economies. Regularities, features and theoretical models of crises in financial markets of East Asian, Latin American countries and Russia are analyzed.
The volume is intended for research workers, university lecturers, post-graduate students and senior students of economics.
Editor-in-chief
S.N.LEONOV, doctor of economics, professor
Reviewers: V.I.ISHAEV, corresponding member of RAS,
O.M. RENZIN, candidate of economics
Contents
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Introduction |
3 |
|
Chapter one. Double crises: theory and empirical approaches to the analysis |
6 |
|
1.1. Currency and banking crises: definitions |
6 |
|
1.2. Theoretical models of crises |
11 |
|
1.3. Empirical research: basic indicators of crisis |
26 |
|
1.4. International capital market : creating preconditions for crisis |
38 |
|
Chapter two. Currency and banking crises in emerging markets |
50 |
|
2.1. Crises in Latin American countries |
50 |
|
2.2. Macroeconomic situation in Asian countries prior to crisis |
58 |
|
2.3. The role of financial flows in crisis formation in East Asian countries |
72 |
|
2.4. The role of contamination effect in crisis development |
83 |
|
2.5. Indications of banking crisis in East Asia |
96 |
|
Chapter three. Russian currency and banking crisis amid global processes |
109 |
|
3.1. Main indications of crisis development |
109 |
|
3.2. Theoretical models of the Russian crisis |
128 |
|
3.3. Interrelation of currency shocks and banking system performance in Russia |
139 |
|
Chapter four. Postcrisis development and the role of the state |
155 |
|
4.1. Postcrisis development in East Asian countries |
155 |
|
4.2. Government regulation of the financial sector in East Asian economies |
163 |
|
4.3. Government regulation and crisis in Russia |
175 |
|
4.4. Postcrisis recovery of the Russian economy |
182 |
|
4.5. Factors of intermediate banking crisis in Russia |
192 |
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Conclusion |
202 |
|
References |
207 |