01789cas a2200265 a 4500 AALejournalIMF005805 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451872507 1018-5941 BD-DhAAL BD-DhAAL Mecagni, Mauro. The Persistence of Capital Account Crises / Mauro Mecagni, Ruben Atoyan, David Hofman. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second, we provide a systematic examination of the determinants of crisis duration. Our econometric analysis suggests that initial conditions and the external environment plays a key role in determining crisis persistence. The policy response also matters, but cannot offset a record of poor past policies. Overall, the results underscore the critical importance of crisis prevention efforts. Mode of access: Internet Atoyan, Ruben. Hofman, David. IMF Working Papers; Working Paper ; No. 2009/103 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/103/001.2009.issue-103-en.xml IMF e-Library