TY  - BOOK
AU  - Milesi-Ferretti,Gian
AU  - Razin,Assaf
TI  - Current Account Reversals and Currency Crises: Empirical Regularities 
T2  - IMF Working Papers; Working Paper
SN  - 1451952422 :
SN  - 1018-5941
PY  - 1998///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Currency Crises
KW  - imf
KW  - Currency Crisis
KW  - Current Account Balance
KW  - Current Account Deficits
KW  - Current Account Reversal
KW  - Current Account Reversals
KW  - Central African Republic
KW  - Comoros
KW  - Congo, Democratic Republic of the
KW  - Guinea
KW  - Mexico
N2  - This paper studies large reductions in current account deficits and exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. Both domestic factors, such as the low reserves, and external factors, such as unfavorable terms of trade, are found to trigger reversals and currency crises. The two types of events are, however, distinct; an exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversals there is no systematic evidence of a growth slowdown
UR  - http://elibrary.imf.org/view/IMF001/01493-9781451952421/01493-9781451952421/01493-9781451952421.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451952421
ER  -