Arbeitspapier
An investigation into the 1999 collapse of the Brazilian Real
This study argues that the political considerations were an important factor behind the crisis of the Brazilian real in January 1999. The divided coalition government and a president facing impending elections eschewed the correction of external misalignments and the fiscal austerity at a time when the markets were already excited by the 1997-98 East Asian and 1998 Russian financial crises. The hypothesis is established after confirming the vulnerability of Brazilian economy to currency crisis through Masson's model of multiple equilibrium and then it is tested by running a maximum likelihood logit regression.
- Language
-
Englisch
- Bibliographic citation
-
Series: DIW Discussion Papers ; No. 304
- Classification
-
Wirtschaft
- Subject
-
Währungskrise
Wechselkurs
Politische Stabilität
Schätzung
Brasilien
- Event
-
Geistige Schöpfung
- (who)
-
Saqib, Omar F.
- Event
-
Veröffentlichung
- (who)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (where)
-
Berlin
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Saqib, Omar F.
- Deutsches Institut für Wirtschaftsforschung (DIW)
Time of origin
- 2002
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