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Sudden capital outflows were at the heart of the 1997-98 Asian crisis. Ten years later, capital flows are back on the policy agenda, but in a very different context. The countries of East Asia are now getting more inflows than they can effectively absorb and the upward pressure on exchange rates...
Persistent link: https://www.econbiz.de/10003645223
Persistent link: https://www.econbiz.de/10014252490
Several studies have suggested that the prediction of standard theory on the effects of monetary policy on the exchange rate might not be applicable to or in the case of the Republic of Korea because participation of foreign investors is weak in the bond market but strong in the stock market....
Persistent link: https://www.econbiz.de/10012995434
estimate the intensity (and effectiveness) of monetary sterilization by the Central Bank of Nigeria (CBN) in response to …
Persistent link: https://www.econbiz.de/10011477122
from Asia. Oil exporting countries in Africa and the Middle East are not left out in this trend. Nigeria's foreign reserves … rose from US$5.5 billion in 1999 to US$62.40 billion in July 2008, making Nigeria the twenty-fourth largest reserves holder … econometrics "Buffer Stock Model" of Frenkel and Jovanovic (1981) to estimate the determinants of foreign reserves in Nigeria with …
Persistent link: https://www.econbiz.de/10011477284
This study examined the effects of persistent exchange rate fluctuations on Nigeria's economic performance. It was … motivated by the quest to ascertain why concerted efforts of the monetary authorities in Nigeria to pursue internal and external … inflation rate had a significant adverse impact on Nigeria's economic growth in the long run. By implication, the net effect of …
Persistent link: https://www.econbiz.de/10012705698
The withdrawal of foreign capital from emerging countries at the height of the recent financial crisis and its quick return sparked a debate about the impact of capital flow surges on asset markets. This paper addresses the response of property prices to an inflow of foreign capital. For that...
Persistent link: https://www.econbiz.de/10010392193
Over the course of the recent global financial crisis, emerging economies experienced massive swings in capital inflows. In this paper, we estimate a VAR model to assess the impact of capital inflow shocks, which are identified using a set of sign restrictions, on house prices in Korea. We base...
Persistent link: https://www.econbiz.de/10012972297
Over the course of the recent global financial crisis, emerging economies experienced massive swings in capital inflows. In this paper, we estimate a VAR model to assess the impact of capital inflow shocks, which are identified using a set of sign restrictions, on house prices in Korea. We base...
Persistent link: https://www.econbiz.de/10013007269
Over the course of the recent global financial crisis, emerging economies experienced massive swings in capital inflows. In this paper, we estimate a VAR model to assess the impact of capital inflow shocks, which are identified using a set of sign restrictions, on house prices in Korea. We base...
Persistent link: https://www.econbiz.de/10013026637