Abstract

http://ssrn.com/abstract=879447
 
 

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Currency Crises and the Real Economy: The Role of Banks


Piti Disyatat


International Monetary Fund (IMF) - Research Department

May 2001

IMF Working Paper No. 01/49

Abstract:     
This paper shows that the quality of banks within each country is one of the important factors that can account for the fact that developing economies tend to suffer more severe output contractions in the wake of a currency crisis than more mature economies. In particular, countries with a banking sector whose balance sheets are healthy, in terms of having high net worth and low foreign currency exposure, are much less likely to suffer a contraction in the wake of an unexpected depreciation.

Number of Pages in PDF File: 29

Keywords: currency crisis, banking crisis, foreign currency debt, balance sheet, output

JEL Classification: E44, E50, F32, F34

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Date posted: January 29, 2006  

Suggested Citation

Disyatat, Piti, Currency Crises and the Real Economy: The Role of Banks (May 2001). IMF Working Paper, Vol. , pp. 1-29, 2001. Available at SSRN: http://ssrn.com/abstract=879447

Contact Information

Piti Disyatat (Contact Author)
International Monetary Fund (IMF) - Research Department ( email )
700 19th Street NW
Washington, DC 20431
United States
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