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to reduce transaction costs, domestic and foreign currencies are introduced into the system. The results of study showed … substitution or complement. We found that the extreme degree of substitutability of currencies led to earlier currency crisis …; however, moderate degree of substitutability of currencies postponed currency crisis. We also explored the dynamic transition …
Persistent link: https://www.econbiz.de/10008555941
Exchange rate movements affect exports through depreciation (appreciation) and risk. Depreciation may raise exports but exchange rate risk could offset the positive effect. This paper investigates the net effect for eight Asian countries using a dynamic conditional correlation bivariate GARCH-M...
Persistent link: https://www.econbiz.de/10008555966
Persistent link: https://www.econbiz.de/10011437519