Japanese Yen and East-Asia Currencies: Before and After the Asian Financial Crisis
The purpose of this paper is to investigate whether the impact of the Japanese yen on the values of East Asian currencies has increased since the 1997 East Asian financial crisis. In particular, this paper focuses on four crisis-affected countries: Indonesia, the Republic of Korea, the Philippines and Thailand. To this end, this paper estimates the weights of the Japanese yen in the determination of the values of the East Asian currencies using daily exchange rate data sets covering the pre-crisis period from January 1990 to June 1997 and the post-crisis period from January 1999 to December 2000. Empirical test results indicate that the impact of the Japanese yen on East Asian currencies has increased since the 1997 financial crisis. The null hypothesis that the weight of the Japanese yen remains the same is rejected for all the four countries examined supporting the alternative that it has increased since the financial crisis.
|Date of creation:||Jan 2001|
|Date of revision:|
|Contact details of provider:|| Postal: 777 Kokusai-cho, Minami Uonuma0-shi, Niigata 949-7277 JAPAN|
Web page: http://www.iuj.ac.jp/research/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Datt, Gaurav & Ravallion, Martin, 1998.
"Why Have Some Indian States Done Better Than Others at Reducing Rural Poverty?,"
London School of Economics and Political Science, vol. 65(257), pages 17-38, February.
- Datt, Gaurav & Ravallion, Martin, 1996. "Why have some Indian states done better than others at reducing rural poverty?," Policy Research Working Paper Series 1594, The World Bank.
- Dubin, Robin A., 1998. "Spatial Autocorrelation: A Primer," Journal of Housing Economics, Elsevier, vol. 7(4), pages 304-327, December.
- Thorbecke, Erik & Berrian, David, 1992. "Budgetary rules to minimize societal poverty in a general equilibrium context," Journal of Development Economics, Elsevier, vol. 39(2), pages 189-205, October.
- Menno Pradhan & Martin Ravallion, 2000. "Measuring Poverty Using Qualitative Perceptions Of Consumption Adequacy," The Review of Economics and Statistics, MIT Press, vol. 82(3), pages 462-471, August.
- Kelejian, Harry H. & Robinson, Dennis P., 1992. "Spatial autocorrelation : A new computationally simple test with an application to per capita county police expenditures," Regional Science and Urban Economics, Elsevier, vol. 22(3), pages 317-331, September.
- Ravallion, Martin & Wodon, Quentin, 1997. "Poor areas, or only poor people?," Policy Research Working Paper Series 1798, The World Bank.
- Foster, James & Greer, Joel & Thorbecke, Erik, 1984. "A Class of Decomposable Poverty Measures," Econometrica, Econometric Society, vol. 52(3), pages 761-66, May.
- Jalan, Jyotsna & Ravallion, Martin, 1998.
"Are there dynamic gains from a poor-area development program?,"
Journal of Public Economics,
Elsevier, vol. 67(1), pages 65-85, January.
- Jalan, Jyotsna & Ravallion, Martin, 1996. "Are there dynamic gains from a poor-area development program?," Policy Research Working Paper Series 1695, The World Bank.
- Moshe Buchinsky, 1998. "Recent Advances in Quantile Regression Models: A Practical Guideline for Empirical Research," Journal of Human Resources, University of Wisconsin Press, vol. 33(1), pages 88-126.
- Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
- Ravallion, Martin & Chao, Kalvin, 1989. "Targeted policies for poverty alleviation under imperfect information: Algorithms and applications," Journal of Policy Modeling, Elsevier, vol. 11(2), pages 213-224.
- Alderman, H., 1998. "Social Assistance in Albania. Decentralization and Targeted Transfers," Papers 134, World Bank - Living Standards Measurement.
- S. M. Ravi Kanbur, 1987. "Measurement and Alleviation of Poverty: With an Application to the Effects of Macroeconomic Adjustment (Evaluation quantitative de la pauvretÃ© et remÃ¨des possibles: analyse des effets d'un ajustemen," IMF Staff Papers, Palgrave Macmillan, vol. 34(1), pages 60-85, March.
When requesting a correction, please mention this item's handle: RePEc:iuj:wpaper:ems_2001_03. 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: (Kazumi Imai, Office of Academic Affairs)
If references are entirely missing, you can add them using this form.