Currency crises theory : third generation models

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buir.advisorYiğit, Taner
dc.contributor.authorKoƧ, Emre
dc.date.accessioned2016-01-08T18:11:47Z
dc.date.available2016-01-08T18:11:47Z
dc.date.issued2009
dc.departmentDepartment of Economicsen_US
dc.descriptionAnkara : The Department of Economic and the Institute of Economics and Social Sciences of Bilkent University, 2009.en_US
dc.descriptionThesis (Master's) -- Bilkent University, 2009.en_US
dc.descriptionIncludes bibliographical references leaves 38-39.en_US
dc.description.abstractThis thesis investigates third generation currency crisis literature and concludes that the 2001 Turkish currency crisis can be labeled as a third generation type crisis, despite having unique characteristics. According to the model of Eijffinger and Goderis (2007) which derives risk premium of the economy from the balance sheet structure of the corporate sector, higher domestic debt increases the probability of currency crisis, whereas higher foreign debt can either increase or decrease the probability of a currency crisis depending on the parameter values. This model has little explanatory power for the 2001 crisis, since the crisis predominantly arise from the maturity mismatch problem in the balance sheet of the financial sector, coupled with moral hazard problem driven by implicit government guarantees. In addition to these two issues which are examined by different strands of third generation currency crisis literature, Turkish crisis display distinctive characteristics such as the role of fragile fiscal deficit financing mechanism.en_US
dc.description.degreeM.A.en_US
dc.description.statementofresponsibilityKoƧ, Emreen_US
dc.format.extentviii, 45 leavesen_US
dc.identifier.urihttp://hdl.handle.net/11693/14978
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectThird Generation Currency Crisis Modelsen_US
dc.subjectBalance Sheet Vulnerabilitiesen_US
dc.subjectMoral Hazarden_US
dc.subjectImplicit Government Guarantiesen_US
dc.subject.lccHG3851.3 .K63 2009en_US
dc.subject.lcshCurrency crises--Mathematical models.en_US
dc.subject.lcshCurrency question.en_US
dc.subject.lcshFinancial crises.en_US
dc.subject.lcshForeign exchange.en_US
dc.titleCurrency crises theory : third generation modelsen_US
dc.typeThesisen_US

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