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Accepted 2017-05-10
Published 2017-05-31
Abstract
The article proposes a new financial stress indicator for the BRIC area using data from 1997 to 2015. The composite indicator is the synthesis of three underlying indicators for the stock market; exchange rates market and the debt market. Empirical analysis shows that the indicator is able to capture the major financial stress episodes that have characterized the economies under analysis.
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