Financial crises

In the last three decades, many countries and regions around the world have suffered from minor or major currency crises. Mexico ('73-'82) and Argentina ('78-'81) are early examples. More recently, several countries in Europe ('92-'93), again Mexico ('94-'95), Southeast Asia ('97-'98), Russia ('98), Brazil ('99), Turkey and Arentina (2001) were hit by this painful event. Although these crises have already been subject to many debates among both politicians and economists, several elements remain the source of much controversy. From an academic perspective, an extensive economic literature has evolved, both theoretical and empirical. It is the intenion of this research to add to this literature, both theoretical and empirical.