The Devaluation of The Thai Baht and a Simple Second Generation Currency Crisis Model

Ramkishen Rajan and Iman Sugema

Economia Internazionale / International Economics, 2002, vol. 55, issue 1, 47-54

Abstract: An important element of the Thai crisis was the sterilisation of reserve outflows by the monetary authorities in an attempt to bailout fragile banks. This paper develops a new second generation currency crisis model to explore the effects of such a policy.

Keywords: Banks; currency crisis; East Asia; lender of last resort; Thailand (search for similar items in EconPapers)
JEL-codes: F30 F32 (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0197

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