کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5060456 1371803 2011 4 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Foreign exchange market intervention and reserve accumulation in emerging Asia: Is there evidence of fear of appreciation?
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Foreign exchange market intervention and reserve accumulation in emerging Asia: Is there evidence of fear of appreciation?
چکیده انگلیسی
► We conjecture that Asian exchange rate regimes in the 2000s can be more precisely described as being a "fear of appreciation" rather than "fear of floating". ► We test this conjecture for six emerging Asian economies which are known to operate a variety of managed floats, viz., India, Korea, Philippines, Singapore, Thailand and Indonesia using monthly data for 2000:m1-2009:m7. ► Our results confirm the existence of an asymmetry in central bank foreign exchange market intervention responses in selected Asian economies. ► Asian central banks appear to react more strongly to exchange rate appreciations than depreciations and they react more to nominal effective exchange rate (NEER) changes than to bilateral US dollar exchange rates.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics Letters - Volume 111, Issue 3, June 2011, Pages 252-255
نویسندگان
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