Exchange rate regimes, capital account opening and real exchange rates: evidence from Thailand
This paper examines the roles of pegged exchange rate regime and capital account opening inducing persistent RER appreciation in the lead-up to the 1997 currency crisis in Thailand. The three-sector (primary, manufacturing, and nontradable) economy-wide model is constructed and policy simulation experiments are undertaken. Key findings are imposing capital control under a pegged exchange rate regime would have averted the persistent internal RER appreciation and boom in nontradable sector....[Show more]
|Collections||ANU Research Publications|
|wp-econ-2006-01.pdf||393.82 kB||Adobe PDF|
|3430-01.2006-05-03T05:37:43Z.xsh||360 B||EPrints MD5 Hash XML|
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.