Zonas de processamento de extorções como política industrial a experiência internacional

Abstract

The present work analyses the tow currency crise that follow the Asian Crisis of 1997 to investigate if they are caused by weak fundamentals or if they are more similar to the previous episode, when it was difficult to establish such correlation. This implied that most of the literature attributed the emergence of the Asian Crisis to purely irrational factos. This work also presents a review of the bibliography on this respect. Through a probit-type econometric model as well as case study of the two most affected countries' data (Russia and Brazil), this research concludes that both crises are related to weak fundamentals and poor macroeconomic management, wheter or not the mechanisms that ignited thse crises were rational. Both episodes had important consequences to the directly affected economies as well as to neighboring and integrated countries.