The third generation genre of currency crises models that have been popularized following the recent crises inemerging economies give prominence to the capital account. Hence, they are also commonly referred to as 'capital crisis models'. These models provide the theoretical rationale and...

Using high-frequency, proprietary data on daily net non-resident portfolio flows to emerging markets, our study finds in the time domain connectedness framework that, to varying degrees, there is less interconnectedness in non-resident debt and equity portfolio flows to our sample of emerging...