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The evolution and impact of Asian exchange rate regimes

Rajan, Ramkishen S. - 2010

This paper revisits the issue of the evolution and choice of exchange rate regimes in Asia. The paper first compiles and discusses the de jure or official exchange rate regimes in various developing and emerging Asian economies. It then goes on to offer a simple empirical estimation of the...

Persistent link: https://www.econbiz.de/10008658817

China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency

McKinnon, Ronald I.; Schnabl, Gunther - 2014

China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls-reinforced by financial repression in domestic interest rates→to avoid an...

Persistent link: https://www.econbiz.de/10010249643

The costs and benefits analysis of CFA membership : the choice of an exchange rate regime for the CFA countries zone

Linjouom, Mireille - 2004

Persistent link: https://www.econbiz.de/10011514027

The Role of the Chinese Dollar Peg for Macroeconomic Stability in China and the World Economy

Schnabl, Gunther - 2010

During the 1997/98 Asian crisis and the 2007-2010 world financial and economic crisis, China has proved to be a … stabilizer for East Asia and the world. The paper stresses the crucial role of the dollar peg for macroeconomic stability in …, East Asia and the world economy. Distortions originating in real exchange rate stabilization are identified and are argued …

Persistent link: https://www.econbiz.de/10013136815

A Reinvestigation of the New RMB Exchange Rate Regime

Tian, Lei - 2012

In order to examine the new RMB exchange rate regime rigorously, we employ the STARTZ model to investigate the behavior of RMB NEER from mid-2006 to mid-2008. We find that a managed float with a target central parity and without an explicit band best describes the daily movement of the exchange...

Persistent link: https://www.econbiz.de/10013107943

Central Bank Balance Sheets and Foreign Exchange Rate Regimes : Understanding the Nexus in Asia

Filardo, Andrew J. - 2013

Central bank balance sheets in emerging Asia have been expanding rapidly for the past decade, driven primarily by the accumulation of foreign exchange reserves. Some of the expansion reflects efforts to increase the buffer stock of reserves in the aftermath of the 1997–98 Asian Financial...

Persistent link: https://www.econbiz.de/10013089507

China's Evolving Exchange Rate Regime

Das, Sonali - 2019

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de...

Persistent link: https://www.econbiz.de/10012889144

De Facto Exchange Rate Regime in Korea : Is it Still a Dollar Peg?

Moon, Han Geun - 2017

The purpose of this paper is to test the common view on the actual exchange rate regime, using very simple but intuitive OLS regression models based on Frankel and Wei's work (1994). The results show that, firstly, East Asian countries including Korea have returned to the dollar peg or managed...

Persistent link: https://www.econbiz.de/10012942418

China's Evolving Managed Float : An Exploration of the Roles of the Fix and Broad Dollar Movements in Explaining Daily Exchange Rate Changes

Clark, John - 2017

We investigate the drivers of daily changes in the exchange value of the Chinese currency (CNY) since early 2016, when a new regime was introduced for setting the fix—the midpoint of the CNY's daily trading range against the U.S. dollar. Daily changes in the fix, which is announced just prior...

Persistent link: https://www.econbiz.de/10012943314

Hard Pegs Versus Intermediate Currency Arrangements in the Pacific

Helble, Matthias - 2015

The 14 Pacific developing member countries (DMCs) of the Asian Development Bank (ADB) have opted for very different exchange rate regimes with varying degrees of flexibility. Whereas several microstates have adopted an external currency as their legal tender, others have decided to use a basket...

Persistent link: https://www.econbiz.de/10013022833