An Empirical Analysis of East Asia's Pre-crisis Daily Exchange Rates
Alba, Joseph Dennis; Park, Donghyun | October 2007
Abstract
"Joseph Dennis Alba and Donghyun Park write that the exchange rate peg to the United States dollar is widely believed to have been a major cause of the Asian financial crisis of 1997–1998. Rigid exchange rates may have invited massive capital inflows into East Asia by creating a false sense of security among investors. A substantial empirical literature examines the actual behavior of pre-crisis exchange rates in the region. The authors seek to contribute to this literature by using daily data compared to other studies that tend to use monthly data and other lowerfrequency data."
Citation
Alba, Joseph Dennis; Park, Donghyun. 2007. An Empirical Analysis of East Asia's Pre-crisis Daily Exchange Rates. © Asian Development Bank. http://hdl.handle.net/11540/1866. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Development
Finance
Development Challenges
Development Issues
Development Problems
Microenterprises Finance
Commercial Finance Companies
Enterprise Financing
Show allCollapse
Citable URI
http://hdl.handle.net/11540/1866Metadata
Show full item record
Users also downloaded
-
Inclusive Cities
(Asian Development Bank, 2011-04-01)Slums, informal settlements, and dilapidated inner-city tenements are problems that many cities in Asia and the Pacific struggle with while their economies try to modernize and develop. Their existence puts at risk not only these economies but also ... -
Diagnostic Study of Accounting and Auditing Practices in the Republic of the Fiji
(Asian Development Bank, 2002-12-01)While the Fiji' accounting and auditing arrangements generally compare well with those of other countries, improvements could be made in two broad areas: Preemptive legislative and institutional actions could strengthen financial reporting arrangements. Since ... -
ADB review - Volume 34, no.5
(Asian Development Bank, 2002-10-31)ADB Review reports on development news from Asia and the Pacific and on the activities of the Asian Development Bank, which publishes the magazine six times a year. Opinions and materials in ADB Review do not necessarily reflect the official views of ADB.