CURRENCY CRISES AND CONTAGION CHANNELS IN ASIAN ECONOMIES

Tey Sheik Kyin () and Chin Lee ()
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Tey Sheik Kyin: Universiti Tunku Abdul Rahman

Bulletin of Monetary Economics and Banking, 2022, vol. 25, issue 4, 575-596

Abstract: This study examines multiple transmission mechanisms that propagate and amplify shocks across Asian nations owing to financial turbulence with emphasis on global shock transmission between economies that prioritise ‘trade’ and ‘financial’ connections in four countries: Indonesia, Korea, Malaysia, and the Philippines. Based on the logit estimation outcomes, a higher degree of trade openness amplifies the implications of shocks on the economy. Relevant implications are drawn for optimal regional monitoring and the coordination of integration as the economic fundamentals associated with the currency crises complements the first-generation models of speculative attacks

Keywords: Currency crisis; Exchange market pressure (EMP); Extreme value theory (EVT) (search for similar items in EconPapers)
JEL-codes: E44 F15 F30 G01 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:25:y:2022:i:4c:p:575-596

DOI: 10.21098/bemp.v25i4.1777

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