Characterizing Exchange Rate Regimes in Post-Crisis East Asia

 
Author/Editor: Baig, Taimur
 
Publication Date: October 01, 2001
 
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Summary: This paper examines the behavior of the exchange rates of selected emerging market East Asian economies in the aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia, Korea, Malaysia, Philippines, and Thailand) were significantly influenced by the U.S. dollar's day-to-day movements before the crisis, and have indeed continued to do so post-crisis. However, comparisons with a range of other currencies suggest that this is a fairly common trait across various regimes. Moreover, results from the post-crisis data do not support the view that the Asia-5 currencies presently have the same characteristics as they did before the crisis.
 
Series: Working Paper No. 01/152
Subject(s): Financial crisis | Indonesia | Korea, Republic of | Malaysia | Philippines | Thailand | Exchange rate regimes | Exchange rate instability | Republic of Korea

Author's Keyword(s): Exchange Rate Regime | Volatility | Asian Crisis
 
English
Publication Date: October 01, 2001
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA1522001 Pages: 45
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