Currency Crisis and Contagion [electronic resource] : Evidence From Exchange Rates and Sectoral Stock Indices of the Philippines and Thailand, Nagayasu, Jun.
- Washington, D.C. : International Monetary Fund, 2000.
- IMF eLibrary
IMF Working Papers; Working Paper No. 00/39.
IMF Working Papers; Working Paper No. 00/39
- Government document
1 online resource (26 p.)
- Local subjects:
- Asian crisis.
Asian financial crisis.
Financial market crisis.
Flexible exchange rate.
Interest rate liberalization.
International banking facility.
Nominal exchange rate.
Stock price indices.
- This paper analyzes empirically the recent Asian financial crisis using high frequency data of exchange rates and stock indices of the Philippines and Thailand. Utilizing standard time-series techniques, this study confirms that there is evidence that developments in some sectoral indices—including those of banking and financial sectors—seem to have caused upward pressure on exchange rates. A correlation between some of these variables is also found to be strong across countries in the crisis period, thereby confirming the importance of the linkages between financial markets as a transmission channel of the Thai crisis to the Philippines.
- Description based on print version record.
- Nagayasu, Jun.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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