第三，由于资本的撤出，汇率的急剧流失和资本不足而导致的恶化效应对金融市场的反应减少，创造了一个更大的关注（Giannetti & Laeven，2012）。由于汇率的降低而导致的实际贬值导致了收入和收入的直接减少。此外，本币相关负债的国内价值增加，以及来自国内借款人的信用价值降低。
There are a number of times when there has been financial crises in different national in the world. Most of these financial crises, includes various common elements. Some of these elements includes the dramatic swing in the current market, the depreciation in the nation and the decline in the real output earned. Between different kinds of financial crises in the world, there are some small differences, but, most of them include the following elements:
Firstly, after the period of time whenever there is a substantial inflow of capital, the investors at domestic and the foreign level takes the decision to have a reduction in the stocks related to the assets with the response of the fundamental change (Òscar, et al., 2011). This can be due to the viability of the exchange rate regime and the increase in the salience of the long standing weakness in the financial sectors. These weaknesses may either arise due to the combination of the insufficient capital or due to the guarantee and excessive leverage of the banks.
Secondly, shift in the focus of the investors from evaluating the situation prevailing in the country to the behaviors of other investors. This led to the increase in the rate of withdrawal from the banks and the investors observed that the resources are being depleted. This led to the development of the situation of moratorium, capital controls etc. which led to the development of the panic situation.
Third, due to the withdrawal of the capital and the sharp turnover in the rate of exchange and the reduction in the capital weakness which led to the exacerbating effect on the financial market response created a greater concern (Giannetti & Laeven, 2012). The real depreciation which was prevailed due to the reduction in the exchange rates led to the direct reduction in the earnings and the incomes. Also, the increase in the domestic values of the currency related liabilities and the reduction in the credit worthiness from the domestic borrowers.