Abstract
SOME LATIN AMERICAN MARKETS HAVE BEEN SERIOUSLY AFFECTED BY THE EPISODES OF FINANCIAL CRISES DURING THE LAST 15 YEARS. ONE WAY OF DEALING WITH CRISES IS TO FIND MECHANISMS AND POLICIES THAT MAY BE IMPLEMENTED IN ORDER TO PREVENT OR FACE THIS TYPE OF EPISODES. HOWEVER, WE CAN ALSO TRY TO CHARACTERIZE AND ANTICIPATE PERIODS OF TURBULENCE IN EMERGING CAPITAL MARKETS THROUGH HISTORICAL TECHNICAL ANALYSIS. THE LATTER APPROACH IS USED IN THIS WORK BY STUDYING THE MULTIFRACTAL PROPERTIES OF THREE LATIN AMERICAN EMERGING MARKETS FACING THE MEXICAN CRISIS OF 1994: ARGENTINA, BRAZIL AND PERU. THE ANALYSIS OF RETURNS IS MADE THROUGH ITS SINGULARITY SPECTRUM DURING THE 1989-2000 PERIOD BY USING A CRISIS-SWITCHING INDICATOR WITH AN EMPIRICAL THRESHOLD. WE SHOW THAT SUDDEN CHANGES IN ONE VERSION OF THE SEQUENCE OF HÖLDER EXPONENTS PRECEDED TURBULENT PERIODS WITH ABOUT SIXTY DAYS OF ANTICIPATION.© 2018, Facultad de Contaduría y Administración, Universidad Nacional Autónoma de México. All rights reserved. Publication of the article implies full assignment of property rights (copyright) in Journal of Contaduría y Administración. The publication mreserves the right to total or partial reproduction of the work in other print, electronic or any other alternative means, but always recognizing its responsibility.
License for Published Content
Unless otherwise stated, all contents of the electronic edition of the journal are distributed under a license and distribution "Creative Commons Attribution-Noncommercial 4.0 International" (CC-by). You can see from here the version of the license information. This circumstance must be expressly stated in this way when necessary.
Metadata License
The metadata of papers published by Contaduría y Administración are in the public domain, through the publisher's waiver of all rights to the work under copyright law worldwide, including all rights and related rights, to the extent permitted by law. You may copy, modify, and distribute the metadata, even for commercial purposes, without requesting permission.
