Twin crises

In economics, twin crises, also called a balance of payments crisis, are simultaneous crises in banking and currency. The term was introduced in the late 1990s by economists Graciela Kaminsky and Carmen Reinhart[1] after several such crises worldwide.

  1. ^ Kaminsky, Graciela L. and Carmen M. Reinhart (1999). "The Twin Crises: The Causes of Banking and Balance of Payments Problems." American Economic Review, Vol. 89 No. 3, 473–500.