The spread of international financial shocks to Asean countries

Céline Gimet

No 928, Working Papers from Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon

Abstract: This article focuses on the reaction of Asean economies to international financial shocks. The crises in emerging markets at the end of the last century underlined the vulnerability of emerging Asean economies to international financial fluctuations and a lack of sustainability in their exchange rate regime. A Structural VAR model is used to analyze the efficiency of the measures adopted by these countries, after this crisis episode, to protect their economies against speculative attacks. The results reveal that the impact of the current subprime crisis on emerging Asean countries is less significant than that observed in industrialized ones.

Keywords: Asean; fluctuations financières internationales; impact macro-économique; intégration régionale; modèle SVAR (search for similar items in EconPapers)
JEL-codes: C32 F41 G15 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2009
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Citations: View citations in EconPapers (3)

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Working Paper: The spread of international financial shocks to Asean countries (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:gat:wpaper:0928

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