کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5063524 | 1372244 | 2007 | 17 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Credibility of CIS exchange rate policies - A technical trader's view
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار و مدیریت بین المللی
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چکیده انگلیسی
Stabilizing the exchange rate is a major monetary policy goal in a number of CIS countries. We present a technical traders-fundamentalists model of the foreign exchange market that allows us to classify de facto exchange rate management and derive a market based measure of the credibility of these exchange rate regimes. In our empirical analysis we compare the exchange rate policies of Belarus, Kazakhstan, Russia and Ukraine with the benchmark of three candidates for EU accession, namely Bulgaria, Romania and Turkey. Our results indicate that markets assign a relatively high degree of credibility to the exchange rate management of the CIS countries. The paths to credibility, however, were quite different.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Emerging Markets Review - Volume 8, Issue 1, March 2007, Pages 50-66
Journal: Emerging Markets Review - Volume 8, Issue 1, March 2007, Pages 50-66
نویسندگان
Christian Bauer, Bernhard Herz,