Crises Gemeas Nos Mercados Emergentes

This article uses a crisis index based on an average of the variations in currency and financial crises indicators, referred to as “twin crises”, adjusting them to the same volatility. Thus, the objective is to measure the degree of vulnerability to twin crises within a group of 19 countries in the context of the East Asian crisis. Based on the crisis index regarding data from 1996, the most vulnerable countries of the twincrises can be ordered and identified a year before the onset of the crises. East Asian countries, in contrast with Latin American countries, were identified as the most vulnerable to twin crises.