Recessions and Financial Disruptions in Emerging Marketes: A Bird's Eye View

Authors

  • Stijn Claessens
  • Ayhan Kose
  • Marco Terrones

Abstract

This paper provides an overview of the implications of recession and financial disruption episodes in emerging markets. We report three major findings. First, compared to advanced countries, recessions and financial disruptions in emerging markets are often more costly. Second, recessions associated with financial disruption episodes, such as credit crunches, equity price busts and financial crises, tend to be deeper than other recessions in emerging markets. Third, the temporal dynamics of macroeconomic and financial variables around these episodes in emerging markets are different from those in advanced countries. In light of these broad observations, the paper provides a review of recessions and financial market disruptions in Chile

 

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Published

28-08-2010

How to Cite

Claessens, S. ., Kose , A. ., & Terrones , M. . (2010). Recessions and Financial Disruptions in Emerging Marketes: A Bird’s Eye View. ECONOMÍA CHILENA, 13(2), 55–84. Retrieved from http://xn--economachilena-5lb.cl/index.php/economiachilena/article/view/137

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