ASEAN currency crises and contagion effects
This study examines the determinants of currency crises in ASEAN countries. The empirical results indicate that reserves inadequacy, an increase in banks' claims on the private sector, a deteriorating trade balance and misalignment of real exchange rates increase the probability of a speculativ...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Curtin University
2000
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/8981/ http://irep.iium.edu.my/8981/ http://irep.iium.edu.my/8981/2/Asia_Pacific_Journal_of_Econ_%26_Business.pdf |
| Summary: | This study examines the determinants of currency crises in ASEAN countries. The empirical results indicate that reserves inadequacy, an increase in banks' claims on the private sector, a deteriorating trade balance and misalignment of real exchange rates increase the probability of a speculative attack on a currency. The results also suggest that currency crises could be contagious. |
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