Abstract:A number of developing countries mainly in East Asia and Latin America and Russia suffered exchange rate crises in the 1990s. We examine the run up to the crisis in terms of a few macro indicators suggested by various crisis models. We then examine the aftermath of the crisis, in contrast to most empirical work that concentrates on determining the causes of crises. We seek to explain the pre-crisis as well as the post-crisis situation in the light of various crisis models. We find that the first-generation cri… Show more
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