Author : Mr.Faisal Ahmed
Publisher : International Monetary Fund
Page : 26 pages
File Size : 43,74 MB
Release : 2011-10-19
Category : Business & Economics
ISBN : 1463926529
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Author : Nicholas Pardini
Publisher : CreateSpace
Page : 146 pages
File Size : 12,62 MB
Release : 2013-04-02
Category : Business & Economics
ISBN : 9781483909134
With central banks around the world devaluing major currencies such as the US dollar, Japanese Yen, and the euro, opportunities for higher returns are available through investing in emerging market currencies. Investing in exotic currencies such as the Chinese renminbi or Brazilian real may seem complicated, but with the help of this book we make it more accessible to investors of all sizes. The Definitive Guide to Emerging Market Currencies covers the macroeconomic underpinnings foreign currency markets, the fundamental factors that define the future strengthening of currencies in emerging markets, and how to trade these currencies. The book also goes into detail on the economic fundamentals of every significantly liquid emerging market currency along with an investing outlook for each one. For those looking to make money trading emerging market FOREX, or are just curious about emerging market currencies, this book is the best place to start. Even stock market investors benefit from learning about these FOREX markets because currency fluctuations have a huge impact on investors' total returns in any foreign country.
Author : Morris Goldstein
Publisher : Columbia University Press
Page : 181 pages
File Size : 45,27 MB
Release : 2004-04-25
Category : Business & Economics
ISBN : 0881324574
In most of the currency crises of the 1990s, the largest output falls have occurred in those emerging economies with large currency mismatches, a phenomenon that occurs when assets and liabilities are denominated in different currencies such that net worth is sensitive to changes in the exchange rate. Currency mismatching makes crisis management much more difficult since it constrains the willingness of the monetary authority to reduce interest rates in a recession (for fear of initiating a large fall in the currency that would bring with it large-scale insolvencies). The mismatching also produces a "fear of floating" on the part of emerging economies, sometimes inducing them to make currency-regime choices that are not in their own long-term interest. Authors Morris Goldstein and Philip Turner summarize what is known about the origins of currency mismatching in emerging economies, discuss how best to define and measure currency mismatching, and review policy options for reducing the size of the problem.
Author : Marek Dabrowski
Publisher : Springer Science & Business Media
Page : 328 pages
File Size : 42,87 MB
Release : 2003-03-31
Category : Business & Economics
ISBN : 9781402071508
Dabrowski (Center for Social and Economic Research, Warsaw, Poland) presents eight comparative papers from a research project carried by his organization between October 1999 and September 2001. The papers examine theoretical models and causes of currency crises; discuss issues of crisis management and the contagion effect; and explore social and political consequences of currency crises. Also included are case studies of 1990s currency crises in Bulgaria, the Czech Republic, Russia, Ukraine, and Moldova. Annotation 2004 Book News, Inc., Portland, OR (booknews.com).
Author : John Williamson
Publisher : Peterson Institute
Page : 110 pages
File Size : 10,16 MB
Release : 2000
Category : Business & Economics
ISBN : 9780881322934
In the aftermath of the Asian/global financial crises of 1997-98, how should emerging markets now structure their exchange rate systems to prevent new crises from occurring? This study challenges current orthodoxy by advocating the revival of intermediate exchange rate regimes. In so doing, Williamson presents a reasoned challenge to the new prevailing attitude which claims that all countries involved in the international capital markets need to polarize to one of the extreme regimes (to a fixed rate with either a currency board or dollarization, or to a lightly-managed float). He concludes that although there is some truth in the allegation that intermediate regimes are vulnerable to speculative crises, they still offer offsetting advantages. He also contends that it would be possible to redesign them to be more flexible so as to reduce their vulnerability to crises.
Author : Meltem G. Chadwick
Publisher :
Page : pages
File Size : 31,96 MB
Release : 2012
Category :
ISBN :
Author : Ms.Laura E. Kodres
Publisher : International Monetary Fund
Page : 40 pages
File Size : 17,68 MB
Release : 1998-02-01
Category : Business & Economics
ISBN : 145184297X
Recent interest in futures contracts on emerging market currencies has raised concerns among some central bank authorities about their ability to maintain stable currencies. This paper presents empirical results examining the influence of the Mexican peso, the Brazilian real, and the Hungarian forint futures contracts on the respective spot markets. While measures of linear dependence and feedback indicate strong connections between the respective markets, futures volatility does not significantly explain spot market volatility, nor does it increase after futures introductions. To account for the characteristics of the spot and futures returns a SWARCH model has been employed to estimate volatility.
Author : Sebastian Edwards
Publisher : University of Chicago Press
Page : 783 pages
File Size : 38,92 MB
Release : 2009-02-15
Category : Business & Economics
ISBN : 0226185052
Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.
Author : Karen Elizabeth Parker
Publisher :
Page : 46 pages
File Size : 15,62 MB
Release : 1998
Category : Currency convertibility
ISBN :
Author : Manmohan S. Kumar
Publisher : International Monetary Fund
Page : 44 pages
File Size : 45,11 MB
Release : 2002
Category : Business & Economics
ISBN :
This paper assesses the extent to which crashes in emerging market currencies are predictable using simple logit models based on lagged macroeconomic and financial data. To evaluate our model, we calculate trading strategies in which an investor goes long or short in the currency depending on whether crash probabilities are low or high. When we estimate the model on part of the data and then use the parameter estimates to generate predictions for the remainder of the sample, we find that substantial profits may be made. Furthermore, the model correctly forecasts major crashes even on an out-of-sample basis.
