I'm just curious whether there are any historical examples of a currency crisis in a country (speculative attacks leading causing a sudden devaluation of currency) leading directly to a debt crisis?

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    $\begingroup$ The term “currency crisis” is somewhat vague here - do you mean only pegged exchange rates that are then devalued? If a currency is floating, defining a “crisis” is subjective. Also, there is a big question of causality here - the currency crisis could be the result of an expectation of default. It is going to be very hard to decide what caused what. $\endgroup$ Mar 21 '18 at 21:08
  • $\begingroup$ Another vagueness issue is the term “debt crisis.” People can define practically anything to be a “crisis” in the news, since a headline with “crisis” in it attracts attention. We normally need a formal event that can be objectively determined after the fact, such as a debt default. So is the question about defaults, or a more subjective criterion like a rapid rise in bomd yields/spreads? $\endgroup$ Mar 23 '18 at 22:15

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