The Yen, The US dollar and The Speculative Attacks Against The Thailand Baht
Early constructions of a single crisis index known as the exchange market pressure (EMP) index have largely been based on the fluctuations of the real or nominal exchange rate of a currency against the US dollar ---the most commonly accepted anchor currency in the global market. Hardly any studies have however tested the sensitivity of this crisis index to the choice of Â“the anchorÂ” currency. To address this pertinent issue, our study considers the case of Thailand for the period of 1985 to 2003. The test results indicate that the EMP index of the baht / the US dollar rate reported substantially less number of speculative attacks against the baht than that reported by the EMP index of the baht / the Japanese yen rate.
|Date of creation:||Oct 2004|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (+ 61 8) 8303 5672
Fax: (+ 61 8) 8223 1460
Web page: http://www.adelaide.edu.au/cies/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:adl:cieswp:2004-06. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dmitriy Kvasov)
If references are entirely missing, you can add them using this form.