Skip navigation
Skip navigation

Effectiveness of High Interest Rate Policy on Exchange Rates: A Reexamination of the Asian Financial Crisis

Brailsford, Timothy John; Penm, Jack HW; Lai, Chin Diew


One of the most controversial issues in the aftermath of the Asian financial crisis has been the appropriate response of monetary policy to a sharp decline in the value of some currencies. In this paper, we empirically examine the effects on Asian exchange rates of sharply higher interest rates during the Asian financial crisis. Taking account of the currency contagion effect, our results indicate that sharply higher interest rates helped to support the exchange rates of South Korea, the...[Show more]

CollectionsANU Research Publications
Date published: 2006
Type: Journal article
Source: Journal of Applied Mathematics and Decision Sciences
DOI: 10.1155/JAMDS/2006/35752


File Description SizeFormat Image
01_Brailsford_Effectiveness_of_High_Interest_2006.pdf482.9 kBAdobe PDF    Request a copy

Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  17 November 2022/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator