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External Debt and Exchange Rate Overshooting: The Case of Selected East Asian Countries Abstract: The accumulations of foreign debts had indeed been at a rapid phase, particularly during the last few years leading to the outbreak of the 1997 financial crises in the four most severely effected economies, namely Indonesia, the Philippines, Thailand and Korea. Interestingly, during the same period, the rates of overshooting of these East Asian currencies have also been found to increase considerably. The objective of this paper is to evaluate whether the rapid accumulation of external debts, especially since 1994, has contributed to the overshooting of the East Asian countriesÂ’ currencies starting late 1997

Author

Listed:
  • Reza Siregar

    (School of Economics, University of Adelaide)

  • Victor Pontines

    (School of Economics, University of Adelaide)

Abstract

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Suggested Citation

  • Reza Siregar & Victor Pontines, 2005. "External Debt and Exchange Rate Overshooting: The Case of Selected East Asian Countries Abstract: The accumulations of foreign debts had indeed been at a rapid phase, particularly during the last few ," Centre for International Economic Studies Working Papers 2005-20, University of Adelaide, Centre for International Economic Studies.
    • Handle: RePEc:adl:cieswp:2005-20
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    File URL: http://www.adelaide.edu.au/cies/papers/0520.pdf
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    Keywords

    External Debt; East Asian Countries; Exchange Rate and Overshooting.;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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