ISSN: 0137-3056


MoSaHE points:

13



Editor in chief:
prof. dr hab. Tomasz Żylicz
tzylicz@wne.uw.edu.pl

Editorial assistant:
Marta Höffner
ekonomia@wne.uw.edu.pl
(48) 22 55 49 184

Publisher:



Kryzys walutowy w Meksyku w latach 1994–1995

K. Spirzewski

ABSTRACT: The globalization processes being at present an object of broad scientific research date from a dozen or so years. The beginning of the 1990-ies was the period during which the capital flows were beginning to trespass the state frontiers to a larger and larger degree. Like in the majority of economic processes, two purely financial problems have been connected with this phenomenon: the profit and the risk. The profit is linked to the capital owners' search after interest rates higher than those offered by their domestic financial market. Whereas the second problem, unseparable from the former, concerns the diversification of the assets portfolio in possession at the given moment. The phenomenon of the transfrontier capital flows is particularly noticeable because of its strong impact on local financial markets in the economies of countries of emerging markets. This impact has a two-way character:

  • favourable—by strongly promoting the development based on the inflow of large quantities of lacking capital;
  • negative—by increasing the dependence of the economic development on the foreign capital and, consequently, making this development dependent on the attained macroeconomic indices or, more exactly, on the assessment of such indices arbitrarily made by international financial markets. Such assessments are being compared with the expected ones, e.g. to the expected exchange rate level. Then, there is always risk that non-fulfilled expectations will lead to oscillations as a result of which the monetary authorities will not keep to the earlier planned exchange rate levels [Obstfeld, 1994, s. 211].
The subject of this paper will be the negative consequences that accompany the international capital flows or, more exactly, the exchange crises of 1994–1998 related to the globalization process (see section 1). In section 2, the Mexican exchange crisis of 1994 will be discussed (see section 2), its sources will be presented, as well as the political and economic situation. In section 3, the scale of the economy breakdown, the situation of the banking sector and the remedial measures undertaken will be discussed. The remaining part of the paper is organized as follows: in section 4, an answer will be presented to the question: is it possible do foresee a crisis? The section is divided into a practical and a theoretical concept. Finally, in section 5 conclusions of general character are presented.

Full text (PDF)


Issue number: 21

In this issue:

Uspołecznienie rynku a proces globalizacji. Przypadek funduszy emerytalnych
A. Ząbkowicz
ABSTRACT | PDF
Kontraktowanie i koszty transakcyjne w partnerstwie publiczno-prywatnym. Ujęcie w świetle nowej ekonomii instytucjonalnej
L. Rojewski
ABSTRACT | PDF
Kapitał społeczny a instytucje - konceptualizacja i relacje
B. Łopaciuk-Gonczaryk
ABSTRACT | PDF
Funkcjonalność modeli scoringowych i ratingowych w świetle implementacji nowych uregulowañ
B. Pawłowska
ABSTRACT | PDF
Wpływ konsolidacji i koncentracji sektora bankowego na poziom cen w bankach. Przykład Stanów Zjednoczonych
S. Kozak
ABSTRACT | PDF
Kryzys walutowy w Meksyku w latach 1994–1995
K. Spirzewski
ABSTRACT | PDF
Jakość oferty polskich ośrodków narciarskich
D. Chudy-Hyski, K. Cieślikowski, M. Żemła
ABSTRACT | PDF
Próba weryfikacji hipotezy Easterlina
M. Szlaga, P. Żukowski
ABSTRACT | PDF
Oprogramowanie do tworzenia eksperymentów ekonomicznych on-line
R. Borowski, T. Kopczewski, P. Kowal
ABSTRACT | PDF
Recenzje

ABSTRACT | PDF
SEARCH:



2024
2016 2015 2014 2013 2012 2011 2009 2008 2007 2005 2004 2003 2002 2001 2016