Optimal Pegs for Asian Currencies

Agnès Bénassy-Quéré ()

Working Papers from CEPII research center

Abstract: The analysis developed in the paper relies on the fact that Asian currencies do not simply try to stabilise output, as assumed by the theory of optimum currency areas. Because growth heavily relies on the development of exports and on foreign direct investment, monetary authorities seem to stress the stability of the real effective exchange rate as the intermediate target.

Keywords: ASIA; CURRENCIES (search for similar items in EconPapers)
JEL-codes: F31 F33 F36 (search for similar items in EconPapers)
Date: 1997-10
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Working Paper: Optimal pegs for asian currencies (1997)
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Persistent link: http://EconPapers.repec.org/RePEc:cii:cepidt:1997-14

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