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Characterizing Exchange Rate Regimes in Post-Crisis East Asia

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  • Characterizing Exchange Rate Regimes in Post-Crisis East Asia
  • Baig, Taimur
  • International Monetary Fund (IMF)


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Title Characterizing Exchange Rate Regimes in Post-Crisis East Asia
Similar Titles
Material Type Reports
Author(English)

Baig, Taimur

Publisher

International Monetary Fund (IMF)

Date 2001
Pages 45
Language English
File Type Link
Subject Economy < General

Abstract

This paper examines the behavior of the exchange rates of selected emerging market East Asian economies in the aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia, Korea, Malaysia, Philippines, and Thailand) were significantly influenced by the U.S. dollar's day-to-day movements before the crisis, and have indeed continued to do so post-crisis. However, comparisons with a range of other currencies suggest that this is a fairly common trait across various regimes. Moreover, results from the post-crisis data do not support the view that the Asia-5 currencies presently have the same characteristics as they did before the crisis.