01622cas a2200241 a 4500 AALejournalIMF008040 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451859614 1018-5941 BD-DhAAL BD-DhAAL Zhang, Zhiwei. Speculative Attacks in the Asian Crisis / Zhiwei Zhang. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (20 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 paper takes the Asian crisis as an example to show that the Autoregressive Conditional Hazard (ACH) model is a powerful tool for studying the time series features of speculative attacks. The ACH model proposes a duration variable to capture the changes in the frequency of attacks, which might be an important factor influencing investors' expectations. The empirical results show that the ACH model explains the crisis far better than the Probit model. The duration variable is highly significant while most fundamentals are not. The contagion effect is tested and accepted under the ACH specification. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2001/189 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/189/001.2001.issue-189-en.xml IMF e-Library