Currency mismatch, systemic risk and growth in emerging Europe

Journal article: We would like to thank Enrique Alberola, Joshua Aizenman, Erik Berglöf, Guillermo Calvo, Jin Han, Andrea Ichino, Jean Imbs, Maurizio Mazzocco, Joe Ostroy, Amine Ouazad and Romain Wacziarg as well as participants at the Economic Policy panel meeting for helpful comments, and the following people for sharing their data sets with us: Reza Baqir (IMF Vulnerability Exercise for Emerging Economies); Herman Kamil (foreign currency borrowing by sector in Latin America); Stephanie Prat (foreign currency foreign assets and liabilities for various emerging economies); and Christoph Rosenberg and Marcel Tirpak (direct borrowing in East Europe from abroad). The views expressed in this paper are those of the authors and do not necessarily represent those of the IMF or IMF policy.The Managing Editor in charge of this paper was Tullio Jappelli.

Author(s)

Romain Rancière, Aaron Tornall, Athanasio Vamvakidis

Journal
  • Economic Policy
Date of publication
  • 2010
Keywords JEL
E44 F34 G15
Keywords
  • Currency Mismatch
  • Emerging Economies
  • Lending Booms
  • Systemic Risk
  • Financial Crises
  • Eastern Europe
Pages
  • 597-658
Version
  • 1
Volume
  • 25