Predicting Currency Fluctuations and Crises: Do Resident Firms Have an Informational Advantage?
Gespeichert in:
| Beteiligte Personen: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Washington, D.C
The World Bank
1999
|
| Schlagwörter: | |
| Links: | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2259 |
| Beschreibung: | Weitere Ausgabe: Schmukler, Sergio: Predicting Currency Fluctuations and Crises |
| Umfang: | 1 Online-Ressource (40 Seiten) |
Internformat
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| 100 | 1 | |a Schmukler, Sergio L. |e Verfasser |0 (DE-588)124322506 |4 aut | |
| 245 | 1 | 0 | |a Predicting Currency Fluctuations and Crises |b Do Resident Firms Have an Informational Advantage? |c Schmukler, Sergio |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 1999 | |
| 300 | |a 1 Online-Ressource (40 Seiten) | ||
| 336 | |b txt |2 rdacontent | ||
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| 500 | |a Weitere Ausgabe: Schmukler, Sergio: Predicting Currency Fluctuations and Crises | ||
| 520 | 1 | |a December 1999 - Markets have had limited success predicting crises and might do better by drawing on private information available to resident enterprise managers, who seem to know better than markets about future movements in exchange rates. Kaufmann, Mehrez, and Schmukler investigate whether resident enterprise managers have an informational advantage about the countries in which they work. They propose a method for extracting information available to resident managers but unknown to investors and forecasters. They test their hypothesis of informational advantage using a unique data set, the Global Competitiveness Survey. The survey asks local managers about their outlook for the country in which they reside. They find that local managers do have useful private information. Local managers' responses improve on conventional forecasts of future volatility and changes in the exchange rate, which are based on economic fundamentals or interest rate differentials. They find that the local business community perceived in advance the recent crises in the Republic of Korea, Russia, and Thailand, but not those in Indonesia and Malaysia. Markets have had limited success predicting crises and might do better by drawing on private information available to resident enterprise managers, who seem to know better than markets about future movements in exchange rates. This paper - a product of Governance, Regulation, and Finance, World Bank Institute - is part of a larger effort in the institute to understand the roles of transparency and governance. The authors may be contacted at dkaufmann@worldbank.org, mehrezg@gunet.georgetown.edu, or sschmukler@worldbank.org | |
| 534 | |c 1999 | ||
| 653 | |a Asymmetric Information | ||
| 653 | |a Balance Of Payments | ||
| 653 | |a Balance Of Payments Crises | ||
| 653 | |a Currencies and Exchange Rates | ||
| 653 | |a Currency | ||
| 653 | |a Debt Markets | ||
| 653 | |a Devaluation | ||
| 653 | |a E-Business | ||
| 653 | |a Emerging Markets | ||
| 653 | |a Exchange | ||
| 653 | |a Exchange Rate | ||
| 653 | |a Finance and Financial Sector Development | ||
| 653 | |a Financial Crises | ||
| 653 | |a Financial Literacy | ||
| 653 | |a Financial Markets | ||
| 653 | |a Future | ||
| 653 | |a Interest | ||
| 653 | |a Interest Rate | ||
| 653 | |a Interest Rate Differentials | ||
| 653 | |a International Cred International Financial Markets | ||
| 653 | |a Investors | ||
| 653 | |a Local Business | ||
| 653 | |a Local Investors | ||
| 653 | |a Mutual Funds | ||
| 653 | |a Private Sector Development | ||
| 653 | |a Sovereign Debt | ||
| 700 | 1 | |a Kaufmann, Daniel |d 1951- |e Verfasser |0 (DE-588)134237544 |4 aut | |
| 700 | 1 | |a Mehrez, Gil |e Verfasser |4 aut | |
| 776 | 0 | 8 | |i Reproduktion von |a Schmukler, Sergio |t Predicting Currency Fluctuations and Crises |d 1999 |
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Datensatz im Suchindex
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| _version_ | 1824985669476286464 |
| adam_text | |
| any_adam_object | |
| author | Schmukler, Sergio L. Kaufmann, Daniel 1951- Mehrez, Gil |
| author_GND | (DE-588)124322506 (DE-588)134237544 |
| author_facet | Schmukler, Sergio L. Kaufmann, Daniel 1951- Mehrez, Gil |
| author_role | aut aut aut |
| author_sort | Schmukler, Sergio L. |
| author_variant | s l s sl sls d k dk g m gm |
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| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)093208464 (OCoLC)874226020 (DE-599)GBVNLM005444616 |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| language | English |
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| physical | 1 Online-Ressource (40 Seiten) |
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| publishDate | 1999 |
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| publisher | The World Bank |
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| spellingShingle | Schmukler, Sergio L. Kaufmann, Daniel 1951- Mehrez, Gil Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? |
| title | Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? |
| title_auth | Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? |
| title_exact_search | Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? |
| title_full | Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? Schmukler, Sergio |
| title_fullStr | Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? Schmukler, Sergio |
| title_full_unstemmed | Predicting Currency Fluctuations and Crises Do Resident Firms Have an Informational Advantage? Schmukler, Sergio |
| title_short | Predicting Currency Fluctuations and Crises |
| title_sort | predicting currency fluctuations and crises do resident firms have an informational advantage |
| title_sub | Do Resident Firms Have an Informational Advantage? |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2259 |
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