Asian Competitive Devaluations
Li-Gang Liu,
Marcus Noland,
Sherman Robinson and
Zhi Wang ()
Additional contact information
Li-Gang Liu: Peterson Institute for International Economics
No wp98-2, Working Paper Series from Peterson Institute for International Economics
Abstract:
In this paper we examine three issues. The first is the path of China's nominal and real exchange rates since 1990. As it turns out, this is more complicated than is commonly assumed, with basic results exhibiting sensitivity to the exchange rate measure used. We conclude that while China did experience a large nominal depreciation, its much higher relative inflation eroded this devaluation, and in real terms the reminbi has actually appreciated during the 1990s. The Chinese devaluation was at best a contributing factor to the Asian financial crises, not their primary cause.
Date: 1998-01
New Economics Papers: this item is included in nep-mon and nep-tra
References: Add references at CitEc
Citations: View citations in EconPapers (19)
Downloads: (external link)
https://www.piie.com/publications/working-papers/asian-competitive-devaluations (text/html)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:iie:wpaper:wp98-2
Access Statistics for this paper
More papers in Working Paper Series from Peterson Institute for International Economics Contact information at EDIRC.
Bibliographic data for series maintained by Peterson Institute webmaster ().