Exchange rate misalignments in ASEAN-5 countries

The purpose of this paper is to estimate the exchange rate misalignments for Indonesia, Malaysia, Philippines, Singapore and Thailand before the currency crisis. By employing the sticky-price monetary exchange rate model in the environment of vector error-correction, the results indicate that the...

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Main Authors:	Lee, Chin, Azli, M., Yusop, Zulkornain, Yusoff, Mohammed
Format:	Conference or Workshop Item
Language:	English
Published:	2004
Subjects:	HG3810 Foreign exchange
Online Access:	http://irep.iium.edu.my/30771/ http://irep.iium.edu.my/30771/1/IBBC2004.pdf

id	iium-30771
recordtype	eprints
spelling	iium-307712013-07-19T03:09:50Z http://irep.iium.edu.my/30771/ Exchange rate misalignments in ASEAN-5 countries Lee, Chin Azli, M. Yusop, Zulkornain Yusoff, Mohammed HG3810 Foreign exchange The purpose of this paper is to estimate the exchange rate misalignments for Indonesia, Malaysia, Philippines, Singapore and Thailand before the currency crisis. By employing the sticky-price monetary exchange rate model in the environment of vector error-correction, the results indicate that the Indonesia rupiah, Malaysian ringgit, Philippines peso and Singapore dollar were overvalued before the currency crisis while Thai baht was undervalued on the eve of the crisis. However, they suffered modest misalignment. Therefore, little evidence of exchange misalignment is found to exist in 1997:2. In particular, Indonesia rupiah, Malaysia ringgit, Philippines peso and Singapore dollar were only overvalued about 1 to 4 percent against US dollar while the Thai baht was only 2 percent undervalued against US dollar. 2004 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/30771/1/IBBC2004.pdf Lee, Chin and Azli, M. and Yusop, Zulkornain and Yusoff, Mohammed (2004) Exchange rate misalignments in ASEAN-5 countries. In: International Borneo Business Conference, 9-11 December 2004, Kota Kinabalu. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3810 Foreign exchange
spellingShingle	HG3810 Foreign exchange Lee, Chin Azli, M. Yusop, Zulkornain Yusoff, Mohammed Exchange rate misalignments in ASEAN-5 countries
description	The purpose of this paper is to estimate the exchange rate misalignments for Indonesia, Malaysia, Philippines, Singapore and Thailand before the currency crisis. By employing the sticky-price monetary exchange rate model in the environment of vector error-correction, the results indicate that the Indonesia rupiah, Malaysian ringgit, Philippines peso and Singapore dollar were overvalued before the currency crisis while Thai baht was undervalued on the eve of the crisis. However, they suffered modest misalignment. Therefore, little evidence of exchange misalignment is found to exist in 1997:2. In particular, Indonesia rupiah, Malaysia ringgit, Philippines peso and Singapore dollar were only overvalued about 1 to 4 percent against US dollar while the Thai baht was only 2 percent undervalued against US dollar.
format	Conference or Workshop Item
author	Lee, Chin Azli, M. Yusop, Zulkornain Yusoff, Mohammed
author_facet	Lee, Chin Azli, M. Yusop, Zulkornain Yusoff, Mohammed
author_sort	Lee, Chin
title	Exchange rate misalignments in ASEAN-5 countries
title_short	Exchange rate misalignments in ASEAN-5 countries
title_full	Exchange rate misalignments in ASEAN-5 countries
title_fullStr	Exchange rate misalignments in ASEAN-5 countries
title_full_unstemmed	Exchange rate misalignments in ASEAN-5 countries
title_sort	exchange rate misalignments in asean-5 countries
publishDate	2004
url	http://irep.iium.edu.my/30771/ http://irep.iium.edu.my/30771/1/IBBC2004.pdf
first_indexed	2023-09-18T20:45:00Z
last_indexed	2023-09-18T20:45:00Z
_version_	1777409616332718080

Exchange rate misalignments in ASEAN-5 countries

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