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Foreign exchange intervention and currency crisis : The case of Korea during pre-crisis period

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Frame of Image e of MASTER OF PUBLIC POLICY
2000
Professor Sang-Moon Hahm
ABSTRACT FOREIGN EXCHANGE INTERVENTION AND CURRENCY CRISIS: THE CASE OF KOREA DURING PRE-CRISIS PERIOD
By
Sung-Kyung Kang
This paper offers an analysis on the effectiveness of foreign exchange interventions during pre-crisis period in Korea. I review how central bank intervention influence the path exchange rates can take. During pre-crisis period many factors contributed on the excessive foreign exchange rate movements. And those factors also made the central bank intervention less effective than normal period. Especially due to the weak banking system and business sector at the time, central bank spent large amount of foreign reserves through interventions and liquidity supports to them. Under the more opened capital market conditions, the monetary authorities need to stabilize the macroeconomic conditions and to build its own credibility in the decision making process rather than frequent interventions.
TABLE OF CONTENTS
LIST OF TABLES
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LIST OF FIGURES ---------------------------------------------------------------- v
I. INTRODUCTION -----------------------------------------------------------------1 II. FOREIGN EXCHANGE RATE SYSTEM AND INTERVENTION -----4 The choice of Foreign Exchange Rate Regime Tools for Policymakers to Influence Exchange Rates The Use of Currency Options III. EFFECTIVNESS OF FOREIGN EXCHANGE INTERVENTION -----22 The Portfolio


Full Text
Title Foreign exchange intervention and currency crisis
Similar Titles
Sub Title

The case of Korea during pre-crisis period

Material Type Reports
Author(English)

Kang, Sung-Kyung

Publisher

[Seoul]:KDI School of Public Policy and Management

Date 2000
Pages 69
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic System
Holding KDI School of Public Policy and Management

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Thesis(Master)