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Patterns Of Exchange Rates And Current Accounts: The East Asian Waltz

Author

Listed:
  • ANDREW SHENG

    (Faculty of Economics & Administration, University of Malaya, Kuala Lumpur, Malaysia;
    Graduate School of Economics and Management, Tsinghua University, Beijing, China)

  • KIAN TENG KWEK

    (Graduate School of Economics and Management, Tsinghua University, Beijing, China)

  • CHO WAI CHO

    (Taylor's University, Selangor, Malaysia)

Abstract

The Global Financial Crisis of 2008 and the Asian Financial Crisis of 1997–1998 have a common trait, that is any shock to the financial system or market system can cause the system or market to flip from one state to another state.

Suggested Citation

  • Andrew Sheng & Kian Teng Kwek & Cho Wai Cho, 2012. "Patterns Of Exchange Rates And Current Accounts: The East Asian Waltz," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 57(02), pages 1-34.
    • Handle: RePEc:wsi:serxxx:v:57:y:2012:i:02:n:s0217590812500099
    DOI: 10.1142/S0217590812500099
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    References listed on IDEAS

    as
    1. Michael P. Dooley & David Folkerts-Landau & Peter M. Garber, 2005. "An essay on the revived Bretton Woods system," Proceedings, Federal Reserve Bank of San Francisco, issue Feb.
    2. Sheng,Andrew, 2009. "From Asian to Global Financial Crisis," Cambridge Books, Cambridge University Press, number 9780521134156, September.
    3. Lane, Philip R. & Milesi-Ferretti, Gian Maria, 2007. "The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004," Journal of International Economics, Elsevier, vol. 73(2), pages 223-250, November.
    4. William R. Cline, 2008. "Estimating Consistent Fundamental Equilibrium Exchange Rates," Working Paper Series WP08-6, Peterson Institute for International Economics.
    5. Raghuram G. Rajan, 2010. "Fault Lines: How Hidden Fractures Still Threaten the World Economy," Economics Books, Princeton University Press, edition 1, number 9111.
    6. Sheng,Andrew, 2009. "From Asian to Global Financial Crisis," Cambridge Books, Cambridge University Press, number 9780521118644, September.
    7. Philip A. Klein, 2006. "Economics Confronts the Economy," Books, Edward Elgar Publishing, number 2385.
    8. Richard Holt & J. Barkley Rosser & David Colander, 2011. "The Complexity Era in Economics," Review of Political Economy, Taylor & Francis Journals, vol. 23(3), pages 357-369.
    9. William R. Cline & John Williamson, 2008. "New Estimates of Fundamental Equilibrium Exchange Rates," Policy Briefs PB08-7, Peterson Institute for International Economics.
    10. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Network effect; feedback mechanism; collective behavior; C45; E61; F36;
    All these keywords.

    JEL classification:

    • C45 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Neural Networks and Related Topics
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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