Open AccessIDENTIFICATION AND ASSESSMENT OF CURRENCY CRISES IN THE REPUBLIC OF SERBIA
Author(s) -
Milan Marković,
Ivana Marjanović
Publication year - 2021
Publication title -
teme
Language(s) - English
Resource type - Journals
eISSN - 1820-7804
pISSN - 0353-7919
DOI - 10.22190/teme190415016m
Subject(s) - currency , index (typography) , exchange rate , serbian , financial crisis , currency crisis , foreign exchange risk , economics , exchange rate flexibility , monetary economics , international economics , financial system , business , exchange rate regime , macroeconomics , linguistics , philosophy , world wide web , computer science
The aim of the paper is to identify the episodes of currency crises in the Republic of Serbia using the exchange market pressure (EMP) index. The country's resilience to currency crises prevents the collapse of the currency and the transfer of negative effects to the entire financial and real sector, so the research and assessment of the factors of currency crises is extremely important. The survey shows that the strongest strikes on the Serbian dinar were in the period of the global financial crisis in 2008, so that adjusting to shocks from abroad is crucial for the sustainability of the applied managed floating exchange rate regime. On the other hand, the stability of the national currency depends mainly on the achieved macroeconomic results, which are presented globally using the misery index.