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dc.contributor.author홍기석-
dc.date.accessioned2016-08-28T11:08:15Z-
dc.date.available2016-08-28T11:08:15Z-
dc.date.issued2005-
dc.identifier.issn0304-3878-
dc.identifier.otherOAK-12695-
dc.identifier.urihttps://dspace.ewha.ac.kr/handle/2015.oak/228779-
dc.description.abstractUsing a comprehensive data set of over 100 developing countries, this paper examines how economies recover from a currency crisis. Some of the regularities found are listed below. First, it takes less than 3 years for the GDP growth rate to fully recover its tranquil-period average. The level of GDP, however, remains permanently below its initial trend, suggesting that the shocks underlying a crisis are persistent. Second, the credit crunch problem lasts much longer than the reduction in the GDP growth rate. Third, the pre-crisis credit expansion and reserve inadequacy, which have been widely recognized as the main causes of a crisis, also are closely related to the extent of the post-crisis recession. Fourth, crisis episodes that are caused mainly by illiquidity, rather than by insolvency, tend to exhibit a sharp recovery. © 2004 Elsevier B.V. All rights reserved.-
dc.languageEnglish-
dc.titleRecovery from a currency crisis: Some stylized facts-
dc.typeArticle-
dc.relation.issue1-
dc.relation.volume76-
dc.relation.indexSSCI-
dc.relation.indexSCOPUS-
dc.relation.startpage71-
dc.relation.lastpage96-
dc.relation.journaltitleJournal of Development Economics-
dc.identifier.doi10.1016/j.jdeveco.2003.12.012-
dc.identifier.scopusid2-s2.0-11244268649-
dc.author.googleHong K.-
dc.author.googleTornell A.-
dc.contributor.scopusid홍기석(7402515802)-
dc.date.modifydate20170301081004-
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사회과학대학 > 경제학전공 > Journal papers
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