دانلود مقاله ISI انگلیسی شماره 7464
ترجمه فارسی عنوان مقاله

سیاست نرخ ارز در شرق آسیا پس از سقوط: چقدر همه چیز تغییر کرده است؟

عنوان انگلیسی
Exchange-rate policy in East Asia after the fall: how much have things changed?
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
7464 2000 28 صفحه PDF
منبع

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

Journal : Journal of Asian Economics, Volume 11, Issue 4, Autumn 2000, Pages 403–430

ترجمه کلمات کلیدی
- شرق آسیا - نرخ ارز - ین
کلمات کلیدی انگلیسی
پیش نمایش مقاله
پیش نمایش مقاله  سیاست نرخ ارز در شرق آسیا پس از سقوط: چقدر همه چیز تغییر کرده است؟

This paper evaluates the changes in the exchange-rate policies of East Asian economies in the aftermath of the currency crisis and the process in which the exchange-market stability was re-established. The empirical analysis evaluates the changing roles of the yen and the US dollar in the currency baskets, the shifts in the volatility of the underlying macroeconomic fundamentals and their implications on exchange-rate management, the exchange-market perception of credibility and risk of the postcrisis exchange-rate regimes, and the process of reversion to fundamental values after the massive currency depreciation. The analysis shows that after the abandonment of the quasi-dollar peg, the yen had gained a greater weight in the currency baskets and the greater flexibility in which the exchange rates are being managed serve to accommodate the greater volatility in the macroeconomic fundamentals. The improvement in the macroeconomic conditions and the greater credibility that has been acquired by the regional monetary authorities had allowed the exchange market to stabilize and enabled the exchange rates to revert back to their fundamental values.