Series: IMF Working Papers
Author(s): Luis Catão , and Gian Milesi-Ferretti
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 16 May 2013
Keywords: International Investment Positions, Current Account Imbalances, Foreign Exchange Reserves, net external debt, net debt, current account balance, Financial Markets and the Macroeconomy, International Lending and Debt Problems, Foreign Exchange Reserves.,
We examine the determinants of external crises, focusing on the role of foreign liabilities and their composition. Using a variety of statistical tools and comprehensive data spanning 1970-2011, we find that the ra...