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Sources of Variations Between The Inflation Rates of Korea, Thailand and Indonesia During The Post-1997 Crisis

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Author Info

  • Gulasekaran Rajaguru

    ()
    (Department of Economics, National University of Singapore.)

  • Reza Siregar

    ()
    (School of Economics, University of Adelaide, Australia)

Abstract

Despite the large number of studies done on the recent East Asian crisis, hardly any of them has however simultaneously evaluated the roots of the inflationary pressures and unearthed the sources of sharp variations between the inflation rates of the various crisis-effected economies. To help fill in this gap, our paper examines and contrasts the sources of inflation in Thailand, Indonesia and South Korea during the period of 1985 to 2001. A number of potential sources of inflation will be considered in the study. But this study pays a particular attention to the possible roles of the monetary aggregates and the exchange rate uncertainties in encapsulating the rise in the inflationary pressures and the variations between the inflation rates experienced by these economies during the 1997 crisis.

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Bibliographic Info

Paper provided by University of Adelaide, Centre for International Economic Studies in its series Centre for International Economic Studies Working Papers with number 2002-29.

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Length: 52 pages
Date of creation: Nov 2002
Date of revision:
Handle: RePEc:adl:cieswp:2002-29

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Keywords: Inflation; Base Money; Expected Depreciation; Exchange Rate Policy; East Asian Financial Crisis;

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References

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Citations

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Cited by:
  1. Tanuwidjaja, Enrico & Choy, Keen Meng, 2006. "Central bank credibility and monetary policy in Indonesia," Journal of Policy Modeling, Elsevier, vol. 28(9), pages 1011-1022, December.
  2. Hossain, Akhand Akhtar, 2009. "Structural change in the export demand function for Indonesia: Estimation, analysis and policy implications," Journal of Policy Modeling, Elsevier, vol. 31(2), pages 260-271.
  3. Thi Kim Cuc Nguyen & Reza Yamora Siregar, 2013. "Inflationary Implication of Gold Price in Vietnam," CAMA Working Papers 2013-20, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  4. Enrico Tanuwidjaja & Choy Keen Meng, 2005. "Central Bank Credibility and Monetary Policy : Evidence from Small Scale Macroeconomic Model of Indonesia," Macroeconomics Working Papers 22576, East Asian Bureau of Economic Research.
  5. Cavoli, Tony, 2009. "Is fear of floating justified?: The East Asia experience," Journal of Policy Modeling, Elsevier, vol. 31(1), pages 1-16.
  6. Wimanda, Rizki E. & Turner, Paul M. & Hall, Maximilian J.B., 2011. "Expectations and the inertia of inflation: The case of Indonesia," Journal of Policy Modeling, Elsevier, vol. 33(3), pages 426-438, May.

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