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Currency Crises And Contagion Channels In Asian Economies

Author

Listed:
  • Tey Sheik Kyin

    (Universiti Tunku Abdul Rahman)

  • Lee Chin

    (Universiti Putra Malaysia)

Abstract

This study examines multiple transmission mechanisms that propagate and amplify shocks across Asian nations owing to financial turbulence with emphasis on global shock transmission between economies that prioritise ‘trade’ and ‘financial’ connections in four countries: Indonesia, Korea, Malaysia, and the Philippines. Based on the logit estimation outcomes, a higher degree of trade openness amplifies the implications of shocks on the economy. Relevant implications are drawn for optimal regional monitoring and the coordination of integration as the economic fundamentals associated with the currency crises complements the first-generation models of speculative attacks

Suggested Citation

  • Tey Sheik Kyin & Lee Chin, 2022. "Currency Crises And Contagion Channels In Asian Economies," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(4), pages 575-596, January.
    • Handle: RePEc:idn:journl:v:25:y:2022:i:4c:p:575-596
    DOI: https://doi.org/10.21098/bemp.v25i4.1777
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    More about this item

    Keywords

    Currency crisis; Exchange market pressure (EMP); Extreme value theory (EVT);
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F15 - International Economics - - Trade - - - Economic Integration
    • F30 - International Economics - - International Finance - - - General

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