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Living With Volatilities: Managing Exchange Rate and Capital Flows in The SEACEN Economies


  • Bank of Thail
  • prepared by Chaipat Poonpatpibul
  • Don Nakornthab


This Occasional Paper was prepared by Bank of Thailand as a background paper to facilitate discussions among the SEACEN Governors at the 42nd SEACEN Governors' Conference held on 27-29 July 2007 in Bangkok, Thailand. The objective of the paper is to highlight the current global economic and financial environment and their risks and to review SEACEN members' experiences in dealing with recent volatilities. The paper also discusses policy options available to SEACEN member banks in dealing with volatilities in exchange rates and capital flows. The Appendix on ¡°Exchange Rates and Capital Flows in the SEACEN Countries¡± was prepared by The SEACEN Centre to provide cross country information on current policy framework and recent policy changes in exchange rate regimes and capital flow management framework of the SEACEN countries and also key economic indicators.

Suggested Citation

  • Bank of Thail & prepared by Chaipat Poonpatpibul & Don Nakornthab, 2007. "Living With Volatilities: Managing Exchange Rate and Capital Flows in The SEACEN Economies," Occasional Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number occ46.
  • Handle: RePEc:sea:opaper:occ46

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    References listed on IDEAS

    1. Cukierman, Alex & Webb, Steven B, 1995. "Political Influence on the Central Bank: International Evidence," World Bank Economic Review, World Bank Group, vol. 9(3), pages 397-423, September.
    2. Gabriele Galati, 2001. "The Dollar-Mark axis," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 137(1), pages 36-57, March.
    3. Aaron Drew & L Christopher Plantier, 2000. "Interest rate smoothing in New Zealand and other dollar bloc countries," Reserve Bank of New Zealand Discussion Paper Series DP2000/10, Reserve Bank of New Zealand.
    4. Robert McCauley, 1999. "The Euro and the Dollar, 1998," Open Economies Review, Springer, vol. 10(1), pages 91-133, February.
    5. Cukierman Alex, 1992. "Central Bank Strategy, Credibility, And Independance: Theory And Evidence," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 3(4), pages 1-10, December.
    6. Gerlach, Stefan, 1999. "Who targets inflation explicitly?," European Economic Review, Elsevier, vol. 43(7), pages 1257-1277, June.
    7. Stanley Fischer, 2001. "Exchange Rate Regimes: Is the Bipolar View Correct?," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 3-24, Spring.
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