The spread of international financial shocks to Asean countries
AbstractThis article focuses on the reaction of Asean economies to international financial shocks. The crises in emerging markets at the end of the last century underlined the vulnerability of emerging Asean economies to international financial fluctuations and a lack of sustainability in their exchange rate regime. A Structural VAR model is used to analyze the efficiency of the measures adopted by these countries, after this crisis episode, to protect their economies against speculative attacks. The results reveal that the impact of the current subprime crisis on emerging Asean countries is less significant than that observed in industrialized ones.
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Bibliographic InfoPaper provided by HAL in its series Post-Print with number halshs-00464216.
Date of creation: 2009
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Asean countries; international financial fluctuations; macroeconomic impact; regional integration; SVAR Model;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-28 (All new papers)
- NEP-FMK-2010-03-28 (Financial Markets)
- NEP-IFN-2010-03-28 (International Finance)
- NEP-MON-2010-03-28 (Monetary Economics)
- NEP-OPM-2010-03-28 (Open Economy Macroeconomics)
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- Marine Coupaud, 2013. "Contagion Des Crises De 1997 Et 2008 En Asean+3: Un Modele Var Structurel," Working Papers hal-00913175, HAL.
- Marien Coupaud, 2013. "Contagion des crises de 1997 et 2008 en ASEAN+3 : un modèle VAR structurel," Larefi Working Papers 1306, Larefi, Université Bordeaux 4.
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