دانلود مقاله ISI انگلیسی شماره 45179
عنوان فارسی مقاله

بررسی رژیم نرخ ارز: رابطه استقلال سیاست پولی : شواهدی از مالزی

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
45179 2015 12 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Examining the exchange rate regime–monetary policy autonomy nexus: Evidence from Malaysia
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : International Review of Economics & Finance, Volume 35, January 2015, Pages 292–303

کلمات کلیدی
تعامل نرخ بهره - استقلال پول - مالزی
پیش نمایش مقاله
پیش نمایش مقاله بررسی رژیم نرخ ارز: رابطه استقلال سیاست پولی : شواهدی از مالزی

چکیده انگلیسی

Some studies suggest that Asian countries can be exempted from the impossible trinity. We examined the empirical relevance of this argument by reviewing the experience of Malaysia. We defined monetary autonomy by analyzing the interaction between the Malaysian and US interest rates. We used the Unrestricted Error Correction Model Pesaran Bounds test to analyze the interaction between the Malaysian and US interest rates during three different sub periods. Our empirical results showed that there is no cointegration evidence during the managed floating exchange rate periods. However, we found that there was a level relationship between the Malaysian and US interest rates during the period when Malaysia had a fixed exchange rate and an open capital account regime. In contrast with other existing studies, we conclude that Malaysia is not exempted from the impossible trinity. Our study has also highlighted that the Pesaran Bounds test must be interpreted carefully when applied to series with mixed orders of integration.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.