The international monetary system: structure, development and prospects / Zakarya Ahmad

This research attempts to explore the evolution, issues and concerns of the present international monetary system. Looking at the previous literatures of the American Economic Association reveals that in almost every year, highlight on the agenda has been the question of reform. Interest in reform h...

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Main Author:	Ahmad, Zakarya
Format:	Research Reports
Language:	English
Published:	Research Management Institude 2003
Subjects:	Environmental policy and economic development. Sustainable development. Environmental management
Online Access:	http://ir.uitm.edu.my/id/eprint/25947/ http://ir.uitm.edu.my/id/eprint/25947/1/LP_ZAKARYA%20AHMAD%20RMI%20K%2003_5.pdf

id	uitm-25947
recordtype	eprints
spelling	uitm-259472019-10-09T04:47:14Z http://ir.uitm.edu.my/id/eprint/25947/ The international monetary system: structure, development and prospects / Zakarya Ahmad Ahmad, Zakarya Environmental policy and economic development. Sustainable development. Environmental management This research attempts to explore the evolution, issues and concerns of the present international monetary system. Looking at the previous literatures of the American Economic Association reveals that in almost every year, highlight on the agenda has been the question of reform. Interest in reform has increased in recent years, due to succession of crises that began with the European exchange rate mechanism (ERM) crisis of 1992- 93 and continued with the “tequila” crisis of 1994-95 and also the Asian, Russian, Long-Term Capital Management (LTCM), and Brazilian crises. This research examines the daily fluctuations between exchange rates and stock prices for five major currencies, including Deutschmark, US Dollar, Japanese Yen, Great Britain Pound and Singapore Dollar, for the period of February 1998 to October 2001. In doing so, the Aumented-Dickey Fuller test and Johansen procedure are applied to investigate the stationary and cointegration properties of the variables. Our empirical results show the one-way causality effect from the exchange rate on the equity market. Our results also suggest that fluctuations of the Ringgit against Deutschmark tend to exhibit significant influence on the equity index, regardless of the exchange rate arrangement system employed and the degree of capital controls. Research Management Institude 2003-09 Research Reports NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/25947/1/LP_ZAKARYA%20AHMAD%20RMI%20K%2003_5.pdf Ahmad, Zakarya (2003) The international monetary system: structure, development and prospects / Zakarya Ahmad. [Research Reports] (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Environmental policy and economic development. Sustainable development. Environmental management
spellingShingle	Environmental policy and economic development. Sustainable development. Environmental management Ahmad, Zakarya The international monetary system: structure, development and prospects / Zakarya Ahmad
description	This research attempts to explore the evolution, issues and concerns of the present international monetary system. Looking at the previous literatures of the American Economic Association reveals that in almost every year, highlight on the agenda has been the question of reform. Interest in reform has increased in recent years, due to succession of crises that began with the European exchange rate mechanism (ERM) crisis of 1992- 93 and continued with the “tequila” crisis of 1994-95 and also the Asian, Russian, Long-Term Capital Management (LTCM), and Brazilian crises. This research examines the daily fluctuations between exchange rates and stock prices for five major currencies, including Deutschmark, US Dollar, Japanese Yen, Great Britain Pound and Singapore Dollar, for the period of February 1998 to October 2001. In doing so, the Aumented-Dickey Fuller test and Johansen procedure are applied to investigate the stationary and cointegration properties of the variables. Our empirical results show the one-way causality effect from the exchange rate on the equity market. Our results also suggest that fluctuations of the Ringgit against Deutschmark tend to exhibit significant influence on the equity index, regardless of the exchange rate arrangement system employed and the degree of capital controls.
format	Research Reports
author	Ahmad, Zakarya
author_facet	Ahmad, Zakarya
author_sort	Ahmad, Zakarya
title	The international monetary system: structure, development and prospects / Zakarya Ahmad
title_short	The international monetary system: structure, development and prospects / Zakarya Ahmad
title_full	The international monetary system: structure, development and prospects / Zakarya Ahmad
title_fullStr	The international monetary system: structure, development and prospects / Zakarya Ahmad
title_full_unstemmed	The international monetary system: structure, development and prospects / Zakarya Ahmad
title_sort	international monetary system: structure, development and prospects / zakarya ahmad
publisher	Research Management Institude
publishDate	2003
url	http://ir.uitm.edu.my/id/eprint/25947/ http://ir.uitm.edu.my/id/eprint/25947/1/LP_ZAKARYA%20AHMAD%20RMI%20K%2003_5.pdf
first_indexed	2023-09-18T23:15:49Z
last_indexed	2023-09-18T23:15:49Z
_version_	1777419104763772928

The international monetary system: structure, development and prospects / Zakarya Ahmad

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