A regional trend towards a basket peg system
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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Volume (Year): 1 (2008)
Issue (Month): 2 ()
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