Chaotic Dynamics in Credit Constrained Emerging Economies

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1806

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DC Field	Value	Language
dc.creator	Caballé, Jordi	-
dc.creator	Jarque, Xavier	-
dc.creator	Michetti, Elisabetta	-
dc.date	2007-11-05T11:32:03Z	-
dc.date	2007-11-05T11:32:03Z	-
dc.date	2004-03-16	-
dc.date.accessioned	2017-01-31T00:57:56Z	-
dc.date.available	2017-01-31T00:57:56Z	-
dc.identifier	http://hdl.handle.net/10261/1806	-
dc.identifier.uri	http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1806	-
dc.description	This paper analyzes the role of financial development as a source of endogenous instability in small open economies. By assuming that firms face credit constraints, our model displays a complex dynamic behavior for intermediate values of the parameter representing the level of financial development of the economy. The basic implication of our model is that economies experiencing a process of financial development are more unstable than both very underdeveloped and very developed economies. Our instability concept means that small shocks have a persistent effect on the long run behavior of the model and also that economies can exhibit cycles with a very high period or even chaotic dynamic patterns.	-
dc.language	eng	-
dc.relation	UFAE and IAE Working Papers	-
dc.relation	605.04	-
dc.rights	openAccess	-
dc.subject	Chaotic Dynamics	-
dc.subject	Credit Constraints	-
dc.subject	Financial development	-
dc.title	Chaotic Dynamics in Credit Constrained Emerging Economies	-
dc.type	Documento de trabajo	-
Appears in Collections:	Digital Csic

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