Economic Shocks And Exchange Rate As A Shock Absorber In Indonesia And Thailand

Siwei Goo and Reza Siregar

in Staff Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: This study investigates the requirement for the exchange rate to be a shock absorber in Indonesia and Thailand from 1986 to 2007. In general, we find that the economic shocks have predominantly been asymmetric relative to the US and the Japanese economies. Yet, the weights attached to the US dollar remain respectably high in the exchange rate management of the rupiah and the baht, in particular for the latter currency, during the post-1997 crisis. Hence, relinquishing the role of the exchange rate as a shock absorber has been costly during both the pre-and the post-1997 crisis periods for these Southeast Asian countries. Furthermore, it is arguably more costly for Thailand during the post-1997, and for Indonesia during the pre-1997 crisis.

Date: 2009
ISBN: 983-9478-77-X
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.seacen.org/GUI/pdf/publications/staff_paper/2009/SP72.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.seacen.org/GUI/pdf/publications/staff_paper/2009/SP72.pdf [301 Moved Permanently]--> https://www.seacen.org/GUI/pdf/publications/staff_paper/2009/SP72.pdf)

Related works:
Working Paper: Economic Shocks and Exchange Rate as a Shock Absorber in Indonesia and Thailand (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sea:spaper:sp72

Access Statistics for this book

More books in Staff Papers from South East Asian Central Banks (SEACEN) Research and Training Centre Contact information at EDIRC.
Bibliographic data for series maintained by Azharin ().