Banking crises and exchange rate regimes: is there a link?

• 成果类型: Article
• 署名作者: Domaç, K; Peria, MSM
• 署名单位: The World Bank; Prime Ministry Turkey; Central Bank of the Republic of Turkey
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(02)00081-8
• 发表日期: 2003
• 页码: 41-72
• 关键词: banking crises and exchange rate regimes

摘要

This paper investigates the linkages between banking crises and exchange rate regimes, using a comprehensive cross-country dataset for the last two decades. The paper examines whether the choice of exchange rate regime affects the likelihood, cost, and duration of banking crises. Empirical results seem to indicate that adopting a fixed exchange rate diminishes the likelihood of banking crises among developing countries. However, once crises occur, the real costs associated with them appear to be larger in countries with fixed exchange rates. The duration of crises does not seem to be robustly affected by the exchange rate policy. (C) 2002 Elsevier B.V. All rights reserved.