Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.22617/WPS190161-2 |
Financial Shocks and Exchange Market Pressure | |
[unavailable] | |
2019-05-15 | |
出版年 | 2019 |
语种 | 英语 |
国家 | 国际 |
领域 | 气候变化 |
英文摘要 |
This paper provides evidence for the importance of capital account openness in buffering depreciation pressures during the taper tantrum in May 2013. After a long period of low interest rates in the United States, tapering quantitative easing in May 2013 led to sizable inflow reversals and currency depreciation in emerging and developing economies. This paper provides evidence for the importance of capital account openness in buffering depreciation pressures during the taper tantrum episode and shows that exposure to external private financing and having a more flexible exchange rate regime led to higher depreciation pressures. Macroeconomic fundamentals, however, did not matter for exchange market pressure. Contents
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来源平台 | Asian Development Bank |
引用统计 | |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/237652 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | [unavailable]. Financial Shocks and Exchange Market Pressure,2019. |
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ewp-581-financial-sh(256KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
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