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Technological Gap and the Currency Crisis in a Small Developing Economy

Author

Listed:
  • Tseng , Hui-Kuan

    (The University of North Carolina at Charlotte, Department of Economics)

Abstract

Technological factors can have noticeable effects on the exact timing of collapse of a small developing economy’s fixed exchange rate regime stemming from uncontrolled domestic credit expansion. We show that if such an economy keeps a constant technological gap with the innovative developed world, an inevitable collapse of its fixed rate regime can be postponed by faster foreign innovation combined with international technology diffusion. However, by numerical simulations a widening of the technological gap is seen to deteriorate the pro-crisis environment and hasten the collapse.

Suggested Citation

  • Tseng , Hui-Kuan, 2004. "Technological Gap and the Currency Crisis in a Small Developing Economy," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 57(2), pages 195-212.
    • Handle: RePEc:ris:ecoint:0138
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    More about this item

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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