Exchange rate regimes and policies in Asia

Agnès Bénassy-Quéré ()

Working Papers from CEPII research center

Abstract: The exchange rate regimes in Asian countries are not straightforward. Officially, only Hong Kong pegs its currency to the USD, whereas the exchange rate regimes of most countries are " managed floats ", i.e. flexible exchange rates with frequent, official interventions. Thus, the official regimes are rather vague, and they include a wide range of de facto policies. This paper tries to disentangle the de facto exchange rate regimes from the official regimes which are reported by the IMF. Its main finding is that there is a mismatch between trade blocs, capital blocs and currency blocs in Asia.

Keywords: EXCHANGE RATE; FINANCIAL POLICY; Asia; currency peg; exchange rate regime; dollar (search for similar items in EconPapers)
JEL-codes: F30 F31 F36 F33 E10 (search for similar items in EconPapers)
Date: 1996-07
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Persistent link: http://EconPapers.repec.org/RePEc:cii:cepidt:1996-07

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