All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

Takuji Kinkyo
''De facto exchange rate regimes in post-crisis Asia''
( 2012, Vol. 32 No.3 )
This paper empirically examines the behaviour of exchange rates in order to identify de facto exchange rate regimes in post-crisis Asian countries. We use the multivariate GARCH model to estimate the conditional correlation among the value of currencies, which include the currencies of Thailand, Korea, Indonesia, and China. The results indicate that the degree of flexibility has increased substantially in the post-crisis exchange rate regimes in those economies, except for China. Even after the introduction of new system in 2005, the renminbi continues to be effectively pegged to the dollar.
Keywords: exchange rate regimes, Asian crisis, multivariate GARCH
JEL: F3 - International Finance: General
F4 - Macroeconomic Aspects of International Trade and Finance: General
Manuscript Received : Nov 30 2011 Manuscript Accepted : Aug 01 2012

  This abstract has been downloaded 1552 times                The Full PDF of this paper has been downloaded 149391 times