Replication data for: Globalization and Emerging Markets: With or Without Crash?
Principal Investigator(s): View help for Principal Investigator(s) Philippe Martin; Hélène Rey
Version: View help for Version V1
Name | File Type | Size | Last Modified |
---|---|---|---|
LICENSE.txt | text/plain | 14.6 KB | 12/07/2019 07:22:AM |
Readme.pdf | application/pdf | 6.2 KB | 12/07/2019 07:22:AM |
progaerMS20020553.txt | text/plain | 6.3 KB | 12/07/2019 07:22:AM |
Project Citation:
Martin, Philippe, and Rey, Hélène. Replication data for: Globalization and Emerging Markets: With or Without Crash? Nashville, TN: American Economic Association [publisher], 2006. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116247V1
Project Description
Summary:
View help for Summary
We analyze the effects of financial and trade globalization on the likelihood of
financial crashes in emerging markets. While trade globalization always makes
crashes less likely, financial globalization may make them more likely, especially
when trade costs are high. Pessimistic expectations can be self-fulfilling and lead to
a collapse in demand for goods and assets. Such a crash comes with a current
account reversal and drops in income and investment. Lower-income countries are
more prone to such demand-based financial crises. A quantitative evaluation shows
our model is consistent with the main stylized facts of financial crashes in emerging
markets. (JEL F12, F32, F37, F41, O16)
Scope of Project
JEL Classification:
View help for JEL Classification
F12 Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
F32 Current Account Adjustment; Short-term Capital Movements
F37 International Finance Forecasting and Simulation: Models and Applications
F41 Open Economy Macroeconomics
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
P34 Socialist Institutions and Their Transitions: Financial Economics
F12 Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
F32 Current Account Adjustment; Short-term Capital Movements
F37 International Finance Forecasting and Simulation: Models and Applications
F41 Open Economy Macroeconomics
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
P34 Socialist Institutions and Their Transitions: Financial Economics
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.