Financial and capital account liberalization in the Pacific Basin: Korea and Taiwan during the 1980's

Menzie Chinn and William Maloney

International Finance from University Library of Munich, Germany

Abstract: This paper presents an alternative method of testing for financial capital mobility in the absence of forward exchange markets. A model of domestic interest rate determination during liberalization is applied to Korean and Taiwanese data. A variety of diagnostic and recursive tests are used to isolate structural breaks in the data. It is shown that Korean interest rates behave as if determined domestically until late 1988, while Taiwanese rates exhibit this behavior until early 1989.

JEL-codes: F3 F4 (search for similar items in EconPapers)
Date: 1995-08-28
Note: TAIWNKOR.WP International Finance
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Related works:
Journal Article: Financial and Capital Account Liberalization in the Pacific Basin: Korea and Taiwan During the 1980's (1998)
Working Paper: Financial and Capital Account Liberalization in the Pacific Basin: Korea and Taiwan during the 1980's (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpif:9508005

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