Open AccessStudying Crisis through Structural Breaks: A Retrospective on Asian Currency Crisis
Author(s) -
K. V. Bhanu Murthy,
Anjala Kalsie
Publication year - 2014
Publication title -
focus : journal of international business
Language(s) - English
Resource type - Journals
eISSN - 2395-258X
pISSN - 2347-4459
DOI - 10.17492/focus.v1i1.2472
Subject(s) - currency crisis , financial crisis , structural break , currency , east asia , economics , financial system , development economics , political science , macroeconomics , econometrics , china , law
The financial crises that have happened during the past few years give us an opportunity to think in retrospect about crisis. The objective of this paper is to identify and analyse various indicators which were affected by the East Asia crisis. The methodology employed is more scientific and systematic and studies structural breaks, before, during and after the crisis. Dummy variables have been used for both A5 countries and India which enabled inter-temporal and international comparisons of crisis variables. The variables do not show the same trend in case of all the crisis-hit countries. In India, none of the variables show structural break indicating that India was not hit by the crisis.