Some Parallels Between Currency and Banking Crises |
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Authors: | Nancy P. Marion |
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Affiliation: | (1) Department of Economics, Dartmouth College, Hanover, NH, 03755 |
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Abstract: | There is a sizeable literature on the causes of speculative attacks on fixed exchange rates and a large literature on the determinants of bank runs. Surprisingly, these two literatures rarely overlap, even though both types of crises involve attacks on asset price-fixing schemes. This paper draws a number of parallels between the work on currency crises and the work on banking crises and examines some of the new insights that are coming out of a more integrated approach in the aftermath of the Asian financial crises. |
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Keywords: | currency crisis banking crisis |
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