Study On The Inter-national Inflection Of Currency Crisis

Currency crisis is a newly developing research field. The currency crisis model, specially the multiple equilibria model which was developed in the middle of 1990s, was not discussed even in the newest economics textbook. There has been few research and published papers on currency crisis in China by now. However, the theoretical frame of currency crisis occurrence is a pre-requisition to study its infection mechanism. Therefore, the thesis introduces two existing models of currency crisis occurrence: traditional model and multi equilibra model in Chapter 2.Whether the infection effect of currency crisis exists is still in argument, and such kind of effects needs to be proved thoroughly. However, it is a basis to discus the infection. The third part of the thesis tries to prove its existence by some simple cases.The chapter 4 studies the mechanism of infection, and discussed the infection channel and role mechanism which spread the crisis. This chapter mainly analyzes the infection mechanism in some classical cases.At last, some hints and helps from the study in the thesis for preventing the spread of the infection of currency crisis are given.