Rethinking vulnerability to currency crises: comments on Athukorala and Warr
This paper re-examines Athukorala and Warr’s ex post investigation of several Asian countries’ vulnerability to balance of payments crises. It argues that their focus on ‘mobile capital’ is flawed in two important aspects. It also questions their ideas about exchange rate ‘overvaluation’, and argues that their case that this is a meaningful indicator of vulnerability is unconvincing. The finding that rapid finance sector growth seems to have been a precursor to crisis is followed up with a...[Show more]
|Collections||ANU Research Publications|
|1826-01.2003-08-05T05:35:15Z.xsh||360 B||EPrints MD5 Hash XML|
|wp-econ-2003-11.pdf||153.36 kB||Adobe PDF|
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.