Regional vulnerability: The case of East Asia

被引：11

作者：

Mody, Ashoka ^{[3
]}

Taylor, Mark P. ^{[1
,2
]}

机构：

[1] Univ Warwick, Barclays Global Investors, Coventry CV4 7AL, W Midlands, England

[2] Ctr Econ Policy Res, Coventry CV4 7AL, W Midlands, England

[3] Int Monetary Fund, Washington, DC 20431 USA

来源：

JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 2007年 / 26卷 / 08期

关键词：

currency crisis; contagion; vulnerability; dynamic factor analysis;

D O I：

10.1016/j.jimonfin.2007.06.012

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In a case study of six East Asian economies, we use dynamic factor analysis to estimate a regional component of the exchange market pressure index (EMPI) as a measure of regional financial stress. The extent to which this indicator is explained by regional economic and financial factors is interpreted as regional vulnerability to crisis. We find that regional external liabilities and exuberance in domestic stock and credit markets, as well as the US high-yield spread, were positively correlated with regional vulnerability. Individual country EMPIs are also explained by regional factors, with country-specific factors and trade linkages playing little role. (c) 2007 Published by Elsevier Ltd.

引用

页码：1292 / 1310

页数：19

共 50 条

[1] Regional Endeavours Rrequired to Deal With Water Vulnerability in East and Southeast Asia
CCOP Technical Secretariat (2nd Fl.
[J]. Global Geology, 1999, (01) : 83 - 94
[2] Managing Regional Energy Vulnerabilities in East Asia: Case Studies
Falkiner, Daniel
[J]. POLITICAL STUDIES REVIEW, 2014, 12 (03) : 477 - 478
[3] Regional integration in East Asia
Giroir, Guillaume
[J]. CHINA PERSPECTIVES, 2005, 62
[4] Climate change: Vulnerability and adaptation. The case of South-East Asia
Ivanova Boncheva, Antonina
[J]. PORTES-REVISTA MEXICANA DE ESTUDIOS SOBRE LA CUENCA DEL PACIFICO, 2016, 10 (19): : 67 - 87
[5] REGIONAL TREASURY CENTRES IN SOUTH EAST ASIA - THE CASE OF BRUNEI DARUSSALAM
Polak, Petr
Roslan, Rady Roswanddy
[J]. MANAGEMENT-JOURNAL OF CONTEMPORARY MANAGEMENT ISSUES, 2009, 14 (01) : 77 - 101
[6] Kidnap for Ransom in South East Asia The Case for a Regional Recording Standard
Mohamed, Mohd Kassim Noor
[J]. ASIAN JOURNAL OF CRIMINOLOGY, 2008, 3 (01) : 61 - 73
[7] Regional governance in east Asia and the Asia-Pacific
Komori Y.
[J]. East Asia, 2009, 26 (4) : 321 - 341
[8] Globalization and regional cooperation in east Asia
Hirakawa, H
[J]. CO-DESIGN FOR A NEW EAST ASIA AFTER THE CRISIS, 2004, : 9 - 43
[9] Barriers to reconciliation in East Asia: the case of two Koreas and its regional implications
Paik, Nak-chung
[J]. INTER-ASIA CULTURAL STUDIES, 2010, 11 (04) : 502 - 510
[10] Regional pathologies of late-stage neoliberalization: The case of Japan in East Asia
Shibata, Saori
Bailey, David J.
[J]. ECONOMY AND SOCIETY, 2024,

← 1 2 3 4 5 →