View this email in your browser [https://wiiw.ac.at/files/mailings/event-202001270920-en.html]   _in cooperation with _ [Research Centre International Economics (FIW)] [http://fiw.ac.at/index.php?id=1&L=3] Dear colleague, we cordially invite you to the following event: PREDICTABILITY OF FINANCIAL CRISES: THE IMPACT OF FUNDAMENTAL, POLICY-INDUCED AND INSTITUTIONAL VULNERABILITIES ON CHINA COMPARED TO OTHER EMERGING MARKETS SEBASTIAN PETRIC RBI and University of Oxford   MONDAY, 10 FEBRUARY 2020, 4:00 PM (16:00 CET) wiiw, Rahlgasse 3, 1060 Vienna FIW-wiiw Seminars in International Economics [https://wiiw.ac.at/fiw-wiiw-seminars-in-international-economics-es-6.html]   _The presentation is based on a book with the same title [https://www.kellogg.ox.ac.uk/blog/predictability-of-financial-crises/]__._ In 2015 and 2016, China’s exchange rate was struck by unprecedented volatility, which does not get appropriate attention from an early warning perspective. The dependent variable of this research is the currency debasement of the Chinese yuan, which took place in August 2015, together with the revision and the subsequent alterations in the exchange rate regime, as well as the entailed capital flow volatility. The independent variables are three analytical dimensions, namely fundamental, policy-induced and institutional vulnerabilities. I analyse why China was less severely affected by financial crises over the past forty years relative to other emerging markets and developing economies. By drawing on lessons from past financial crises, I shed light on the notion that China had advantages along those three dimensions which made the country less vulnerable to financial crises, in particular to excess volatility in China’s currency. I hypothesise, however, that certain variables of these dimensions have changed, thus leading to increased fragilities of China in the second half of 2015 and 2016. _Paper and presentation, when available, are posted online after the seminar._ WE KINDLY ASK YOU TO REGISTER [https://wiiw.ac.at/bc-e-er-458.html] for the event. Participation is free of charge.   Best regards, Olga Pindyuk [https://wiiw.ac.at/olga-pindyuk-s-21.html] _Organiser_            Robert Stehrer [https://wiiw.ac.at/robert-stehrer-s-16.html] _Scientific Director_ wiiw The Vienna Institute for International Economic Studies Rahlgasse 3, 1060 Vienna, Austria wiiw@wiiw.ac.at, wiiw.ac.at [https://wiiw.ac.at] T: +43 1 533 66 10 [tel:+4315336610] [http://www.facebook.com/wiiw.economic.studies] [http://www.twitter.com/wiiw_news] [http://www.linkedin.com/company/vienna-institute-for-international-economic-...] [http://www.youtube.com/channel/UCyNuSfsgzgBsIf7AaH8Vk-Q] [https://wiiw.ac.at/rss.php] Copyright ©2020 wiiw, all rights reserved.