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This study examines the role of financial integration on exchange market pressure (EMP) across a representative group of forty-two advanced and emerging markets over the period 2000-2019, which covers the global financial crisis, which has heightened monetary and economic policy uncertainty. We...
Persistent link: https://www.econbiz.de/10014256164
The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...
Persistent link: https://www.econbiz.de/10013110301
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The imbalanced, yet mutually beneficial, trading relationship between the United States and Asia has long been one of international finance's most perplexing mysteries. Although the United States continues to post a substantial trade deficit-and China reaps the benefits of a surplus-the dollar...
Persistent link: https://www.econbiz.de/10012673908
In the evolving environment of global financial markets, governments, corporations, individual investors, and their associated financial institutions must grapple with a host of thorny issues that affect emerging economies with particular force, as we saw during the Asian financial crisis of the...
Persistent link: https://www.econbiz.de/10012675026
This paper examines how a country’s exchange rate policy should be adjusted when the degree of integration between domestic and external financial markets increases as a result of both domestic financial liberalization and the relaxation of capital controls. As the financial structure is...
Persistent link: https://www.econbiz.de/10014396254
the Philippines. Regression analysis indicates that tariffs hindered cotton textile exports to the Philippines during the … diminished, and the devaluation became the principal driver of Japanese textile exports to the Philippines. To counter this … period in 1935. However, this agreement failed to reduce the value of Japanese cotton textile exports to the Philippines. A …
Persistent link: https://www.econbiz.de/10015051577
This paper deals with two related issues: the sustainability of China's exchange rate regime and the opening up of its capital account. The exchange rate discussion deliberately passes over the issue of the "equilibrium" value of the renminbi and its alleged undervaluation - typically at the...
Persistent link: https://www.econbiz.de/10011643520