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The Devaluation of The Thai Baht and a Simple Second Generation Currency Crisis Model

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Author Info

  • Rajan , Ramkishen S.

    ()
    (School of Public Policy, George Mason University)

  • Sugema, Iman

    ()
    (Bogor Agricultural University, Department of Economics)

Abstract

An important element of the Thai crisis was the sterilisation of reserve outflows by the monetary authorities in an attempt to bailout fragile banks. This paper develops a new second generation currency crisis model to explore the effects of such a policy.

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Bibliographic Info

Article provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.

Volume (Year): 55 (2002)
Issue (Month): 1 ()
Pages: 47-54

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Handle: RePEc:ris:ecoint:0197

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Keywords: Banks; currency crisis; East Asia; lender of last resort; Thailand;

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