Exchange Rate Arrangements and Monetary Autonomy in Fourteen Selected Asian and Pacific Countries

Yu Hsing
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Yu Hsing: Southeastern Louisiana University

Economics Bulletin, 2012, vol. 32, issue 2, 1731-1736

Abstract: Applying the autoregressive distributed lag model, this paper examines whether different exchange rate arrangements may affect monetary autonomy. In the short run, all the countries have moderate or significant monetary autonomy due to partial or small adjustments. In the long run, Hong Kong, New Zealand, the Philippines and Thailand make full or large adjustments whereas Australia, Bangladesh, China, India, Indonesia, Japan, Korea, Malaysia, Singapore and Taiwan continue to possess moderate or significant monetary autonomy.

Keywords: exchange rate regimes; monetary autonomy; ADL model; trilemma (search for similar items in EconPapers)
JEL-codes: E5 F4 (search for similar items in EconPapers)
Date: 2012-06-15
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