Currency crises in transition economies: some further evidence

This paper seeks to explain the causes of turbulence in foreign exchange markets in selected transition Economies (Albania, Belarus, Bulgaria, Croatia, FYROM, Moldova, Romania and Ukraine), by using a set of CATREG models and introducing explanatory variables, not directly associated with the official exchange rate. It considers the influence of macroeconomic, social development, institutional and external variables, by providing an integrated framework beyond first, second or third generation previous released theoretical models, bringing a new innovative and wider approach to the field.