Pagging and Macroeconomic Performance in East Asia

Ramon Moreno

Working Papers from Economisch Institut voor het Midden en Kleinbedrijf-

Abstract: As memories of the East Asian crises of 1997-1998 recede, attention has shifted back to the traditional problems of macroeconomic management in a small open economy. A key question, in this regard, is the appropriate choice of exchange rate regime. While the East Asian crises cased some disenchantment wit pegging in the region, historical experience suggests that the appeal of pegging is very strong in many emerging markets. To shed some light on the relative merits of pegging in East Asia we briefly discuss what the recent literature ahe to say on this question. We then review the experience of the region over the period 1974-1999.

Keywords: EXCHANGE RATE; FINANCIAL POLICY (search for similar items in EconPapers)
JEL-codes: F30 F31 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2000
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