COUSIN RISKS: THE EXTENT AND THE CAUSES OF POSITIVE CORRELATION BETWEEN COUNTRY AND CURRENCY RISKS / RISCOS PRIMOS: UMA INVESTIGAÇÃO ACERCA DA OCORRÊNCIA E DAS CAUSAS DA CORRELAÇÃO ENTRE O RISCO PAÍS E O RISCO CAMBIAL
AUTOR(ES)
ALEXANDRE LOWENKRON
DATA DE PUBLICAÇÃO
2003
RESUMO
This dissertation studies the positive correlation between country and currency risks observed in some countries. The presence of this phenomenon is harmful to the economies, since it brings more vulnerability to recessive shocks. The first aim of this paper is to identify the extension of this phenomenon by separating a sample of 25 countries in two groups: the one where the positive correlation is observed and the one where it is not. Based on that that taxonomy, it is implemented an investigation on what are the factors responsible for the phenomenon. The results show that exchange rate mismatch and underdeveloped financial markets are strongly associated with the presence of positive correlation between the two risks.
ASSUNTO(S)
currency risk cousin risks risco-pais country risk risco cambial riscos primos
ACESSO AO ARTIGO
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