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Frontiers of Economics in China

ISSN 1673-3444

ISSN 1673-3568(Online)

CN 11-5744/F

Postal Subscription Code 80-978

Front. Econ. China    2010, Vol. 5 Issue (2) : 254-275    https://doi.org/10.1007/s11459-010-0013-4
Research articles
A Study on KLR Financial Crisis Early-Warning Model
Jianping Shi1, Yu Gao 2,
1.School of Finance, Central University of Finance and Economics, Beijing 100081, China ; 2.School of Finance, Central University of Finance and Economics, Beijing 100081, China;
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Abstract The financial crisis early-warning models were improved gradually with the continued regional financial crises that provided a wealth of empirical data by the end of last century. However, none of the crisis early-warning models correctly predicted the global financial crisis in 2008. Previous researches show the KLR model have better performance, so we reviewed the crisis early-warning system based on the KLR model using the recently data. This paper first tested the KLR model, and made some amendments based on the actual economic environment. Then we re-test the modified model, which show an improved performance. At last, the future crisis probabilities of some selected countries are predicted by using the amendatory model.
Keywords KLR model      emerging market      financial crisis      early-warning system      
Issue Date: 05 June 2010
 Cite this article:   
Jianping Shi,Yu Gao. A Study on KLR Financial Crisis Early-Warning Model[J]. Front. Econ. China, 2010, 5(2): 254-275.
 URL:  
https://academic.hep.com.cn/fec/EN/10.1007/s11459-010-0013-4
https://academic.hep.com.cn/fec/EN/Y2010/V5/I2/254
[1] LIU He. A Comparative Study of Two Global Crises[J]. Front. Econ. China, 2015, 10(3): 396-413.
[2] Ronald McKinnon. Hot Money Flows, Cycles in Primary Commodity Prices, and Financial Control in Developing Countries[J]. Front. Econ. China, 2015, 10(2): 201-223.
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