Financial Crises in Emerging Markets: An Essay on Financial Globalization and Fragility

2001 ◽  
Vol 80 (2) ◽  
pp. 171
Author(s):  
Richard N. Cooper ◽  
Alexandre Lamfalussy
Keyword(s):  
Emerging Markets ◽  
Financial Crises ◽  
Financial Globalization

scholarly journals Globalization and Emerging Markets: With or Without Crash?

2006 ◽  
Vol 96 (5) ◽  
pp. 1631-1651 ◽  
Author(s):  
Philippe Martin ◽  
Hélène Rey
Keyword(s):  
Emerging Markets ◽  
Quantitative Evaluation ◽  
Current Account ◽  
Financial Crises ◽  
Trade Costs ◽  
Financial Globalization ◽  
Lower Income ◽  
Stylized Facts ◽  
Lower Income Countries ◽  
A Current

We analyze the effects of financial and trade globalization on the likelihood of financial crashes in emerging markets. While trade globalization always makes crashes less likely, financial globalization may make them more likely, especially when trade costs are high. Pessimistic expectations can be self-fulfilling and lead to a collapse in demand for goods and assets. Such a crash comes with a current account reversal and drops in income and investment. Lower-income countries are more prone to such demand-based financial crises. A quantitative evaluation shows our model is consistent with the main stylized facts of financial crashes in emerging markets.

scholarly journals Financial Globalization and Fiscal Perfomance in Emerging Markets

2005 ◽  
Vol 05 (212) ◽  
pp. 1 ◽  
Author(s):  
David Hauner ◽  
Manmohan S. Kumar ◽  
◽  
Keyword(s):  
Emerging Markets ◽  
Financial Globalization

Assessing the Financial Vulnerability of Emerging Markets

2016 ◽  
pp. 2344-2376
Author(s):  
Fahad Mansoor Pasha ◽  
Neslihan Yilmaz
Keyword(s):  
South Africa ◽  
Emerging Markets ◽  
Financial Performance ◽  
Financial Crises ◽  
Vulnerability Index ◽  
Emerging Countries ◽  
Economic Indicators ◽  
Financial Vulnerability ◽  
Coming Crisis ◽  
Financial Fluctuations

The consequences of the recent financial crises during the last two decades showed how important it is to monitor financial performance and try to predict a coming crisis. In an effort to predict a coming crisis, the authors calculate a vulnerability index based on a number of financial and economic indicators. This chapter analyzes the financial vulnerability of sixteen emerging countries as these countries are more vulnerable to financial fluctuations. The findings show that Peru, Russia, Indonesia, and Thailand are less vulnerable to a crisis, whereas, South Africa, Turkey, India, Egypt, and Hungary are more vulnerable to a crisis.

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