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Characterizing Exchange Rate Regimes in Post-Crisis East Asia
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Author/Editor: |
Baig, Taimur |
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October 1, 2001 |
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Electronic Access: |
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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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.
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Series: |
Working Paper No. 01/152 |
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Subject(s): |
Financial crisis | Indonesia | Korea, Republic of | Malaysia | Philippines | Thailand | Exchange rate regimes | Exchange rate instability | Republic of Korea |
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Author's keyword(s): |
Exchange Rate Regime
| Volatility
| Asian Crisis
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Published: |
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October 1, 2001 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA1522001 |
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Pages: |
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45 |
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Price: |
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US$15.00
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Price Delivery Note: |
Prepayment required for individual copies. An annual subscription is $375.00 a year. It includes 12 monthly shipments and priority mail delivery. The Stock No. for the subscription is WPEA. |
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