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A regional trend towards a basket peg system

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  • Iwan J. Azis
  • Nattapong Puttanapong
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    Abstract

    Exchange rate volatility can be detrimental to growth and stability. For East Asian countries, a common basket system can be a way to reduce such volatility. By evaluating the weights of the dollar, the yen, and the euro in individual country's exchange rate, the paper shows that post-crisis fluctuations of regional currencies are no longer determined by the US dollar alone. Should the region decide to adopt a common basket, therefore, it is consistent with such a trend. The regional exchange rates also have not uniformly functioned as a stabiliser, suggesting there is a room for a basket peg system.

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    Bibliographic Info

    Article provided by Inderscience Enterprises Ltd in its journal Int. J. of Trade and Global Markets.

    Volume (Year): 1 (2008)
    Issue (Month): 2 ()
    Pages: 144-162

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    Handle: RePEc:ids:ijtrgm:v:1:y:2008:i:2:p:144-162

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    Web page: http://www.inderscience.com/browse/index.php?journalID=130

    Related research

    Keywords: exchange rate volatility; macroeconomic stability; basket peg system; symmetric shock; East Asia; regional currencies; regional exchange rates; common basket.;

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