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Exchange Rate Arrangements and Monetary Autonomy in Fourteen Selected Asian and Pacific Countries


  • Yu Hsing

    () (Southeastern Louisiana University)


Applying the autoregressive distributed lag model, this paper examines whether different exchange rate arrangements may affect monetary autonomy. In the short run, all the countries have moderate or significant monetary autonomy due to partial or small adjustments. In the long run, Hong Kong, New Zealand, the Philippines and Thailand make full or large adjustments whereas Australia, Bangladesh, China, India, Indonesia, Japan, Korea, Malaysia, Singapore and Taiwan continue to possess moderate or significant monetary autonomy.

Suggested Citation

  • Yu Hsing, 2012. "Exchange Rate Arrangements and Monetary Autonomy in Fourteen Selected Asian and Pacific Countries," Economics Bulletin, AccessEcon, vol. 32(2), pages 1731-1736.
  • Handle: RePEc:ebl:ecbull:eb-12-00365

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    References listed on IDEAS

    1. Kim, Soyoung & Yang, Doo Yong, 2009. "International Monetary Transmission and Exchange Rate Regimes: Floaters vs. Non-Floaters," ADBI Working Papers 181, Asian Development Bank Institute.
    2. Hiroyuki Taguchi, 2009. "Currency Regime and Monetary Autonomy," Finance Working Papers 23076, East Asian Bureau of Economic Research.
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    More about this item


    exchange rate regimes; monetary autonomy; ADL model; trilemma;

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit


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