| dc.contributor | 金融系 | |
| dc.creator (作者) | Shen, Chung-Hua;Wang, Lee-Rong | |
| dc.creator (作者) | 沈中華;王儷容 | zh_TW |
| dc.date (日期) | 2001-04 | |
| dc.date.accessioned | 1-Oct-2015 18:37:04 (UTC+8) | - |
| dc.date.available | 1-Oct-2015 18:37:04 (UTC+8) | - |
| dc.date.issued (上傳時間) | 1-Oct-2015 18:37:04 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/78838 | - |
| dc.description.abstract (摘要) | This article stresses the role of the central bank when discussing the response of the exchange rate to net capital flows in selected East Asian countries. We argue that the priority of central banks is the inflation rate but this priority sometimes becomes obscured by other factors. This article considers the sources of inflation and economic competitiveness as the two other factors. We argue that low inflation may result from strong productivity in a boom or from weak demand in a recession. Similarly, high inflation may result from strong demand or from a fiscally irresponsible government. Capital inflows would be expected in the former case and outflows would be anticipated in the latter case. The extent of the intervention of central banks and the resulting responses of the exchange rate will therefore vary based on the circumstances. The detailed empirics conducted in this article for selected Asian economies broadly confirm these hypotheses. | |
| dc.format.extent | 1041856 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | ASEAN Economic Bulletin, 18(1), 63-82 | |
| dc.subject (關鍵詞) | Capital Flows;Exchange Rates | |
| dc.title (題名) | To Intervene or Not to Intervene: Exchange Rate Responses to Capital Flows in Selected Asian Economies | |
| dc.type (資料類型) | article | en |
