Research Article
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Year 2018, Volume: 8 Issue: 1, 61 - 65, 30.12.2018
https://doi.org/10.17261/Pressacademia.2018.982

Abstract

Amaç - Sürdürülemez döviz kuru politikalarının finansal krizlere yol açması, ekonomideki tartışmaların odak noktasını oluşturmaktadır. Küresel finansal krizi, bu tartışmaları yeniden gündeme gelmiştir. Bu nedenle, çalışma seçili Asya ekonomilerinin döviz kuru politikalarını analiz etmeyi amaçlamaktadır.

Metodoloji - Asya ekonomilerinin döviz kuru politikaları teorik bir çerçevede değerlendirilecektir. IMF raporları ışığında, Asya ülkelerinin döviz kuru politikaları incelenecek ve ilgili literatür değerlendirilecektir.

Bulgular- Asya ekonomilerinin döviz kuru politikaları çok sık değişmiştir. Sabit döviz kurlarından esnek oranlara geçiş yapsalar da piyasaya müdahale etmeyi tercih etmektedirler. Döviz kuru politikalarında hem ekonomik hem de politik faktörlerin etkileri gözlenmektedir.

Sonuç- Asya ekonomilerinin dünya entegrasyonundaki artış, döviz kuru politikalarını etkilemektedir. Döviz kuru politikalarında hem iç faktörler hem de dış faktörler etkili olmaktadır.

References

  • Aizenman, J ve J. Lee, (2008). Financial Versus Monetary Mercantilism, Long Run View of Large International Reserves Hoarding” World Economy 31 (5), 593-611.
  • Bénassy-Quéré, Agnès ve Amina Lahrèche-Révil, (2003). “Trade Linkages and Exchange Rates in Asia: The Role of China, CEPII, No. 2003-21,Aralık.
  • Calvo, Guillermo ve Reinhart, Carmen (2000): Fixing For Your Life, NBER Working Paper Series, Working Paper 8006, November.
  • Caporale, G.M, Luis A. Gill Alana ve Kefei You (2016) “Exchange Rate Linkages Between Asean Curencies, The US Dollar and The Chines Renminbi” Bank of Finland Research, Discussion Paper, 20.
  • Cumings, B. (1999) The Asian Crisis, Democracy and the End of Late Development” In T.J. Pempel (ed) The Politics of Asian Economic Crisis, Ithaca NY: Cornell University Press 17-44.
  • IMF (2000) 1960-2000. Annual Reports on Exchange Arrangements and Exchange Restrictions. Washington, D.C.
  • IMF (2012). Financial Operations and Transactions, Appendix II.
  • IMF (2017). Annual Report on Exchange Arrangements and Exchange Restrictions, October.
  • Frankel, Jeffrey A. (1999). “No Single Currency is Right for All Countries or at all Times,” Princeton Essays in International Finance 215. International Finance Section. Department of Economics. Princeton University. Princeton NJ.
  • Frankel,Jeffrey A. (2004) “Experience and Lessons from Exchange Rate Regimes in Emerging Economies”, Monetary and Financial Integration, Vol. 2, 91-138, Palgrave Macmillan Press, New York.
  • Hamilton-Hart, Natasha, (2011). Distribution Domestic Policies and Monetary Cooperation in East Asia, ADBI, Working Paper Series, No.332
  • Kawai, Masahiro ve Victor Pontines,(2014). The Renminbi and Excahnge Rate Regimes in Asia, ADBI Working Paper Series, N0.484, May. Asian Development Bank.
  • Kroeber, Arthur R. (2017). Çin Ekonomisi, Buzdağı Yayınevi, Ankara.
  • Krugman, Paul (2010). Bunalım Ekonomisinin Geri Dönüşü ve Küresel Kriz, 6. Basım, Literatür Yayınları, İstanbul.
  • McKinnon, R. (2001) After the Crisis The East Asian Dollar Standard Resurrected: An Interpretation oh High Frequency Exchange Rate Pegging, HKIMR Working Paper No. 04/2001
  • Tiwari, Rajnish, (2003). Post-Crisis Excahnge Rate Regimes in South East Asia: An Emprical Survey of De Facto Policies, Seminar Paper, University of Hamburg, online available: http://www.rrz.uni-hamburg.de/RRZ/R.Tiwari/papers/exchange-rate.pdf
  • Wang, Hongying (2014). “The Political Economy of Exchange Rates in East Asia”, Handbook of the International Political Economy of Monetary Relations Edited by Thomas Oatley and W. Kindred Wincoff, Edward Elgar Publishing, UK. 2014.

AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES

Year 2018, Volume: 8 Issue: 1, 61 - 65, 30.12.2018
https://doi.org/10.17261/Pressacademia.2018.982

Abstract

Purpose- The fact that unsustainable exchange rate policies lead to financial crises becomes the focus of debates in economics. With the global financial crisis, these debates has been revived. Therefore, this study aims to analyze the exchange rate policies of selected Asian economies.

Methodology- The exchange rate policies of Asian economies will be evaluated within a theoretical framework. In the light of IMF reports, exchange rate policies of Asian countries will be examined and relevant literature will be evaluated.

Findings- The exchange rate policies of Asian economies have constantly changed. They preferred to intervene in the market, even if they switched from fixed exchange rates to flexible rates. The effects of both economic and political factors are observed in exchange rates policies.

Conclusion- The increase in world integration of Asian economies affects exchange rate policies. Both internal factors and external factors were influential in exchange rate policies.

References

  • Aizenman, J ve J. Lee, (2008). Financial Versus Monetary Mercantilism, Long Run View of Large International Reserves Hoarding” World Economy 31 (5), 593-611.
  • Bénassy-Quéré, Agnès ve Amina Lahrèche-Révil, (2003). “Trade Linkages and Exchange Rates in Asia: The Role of China, CEPII, No. 2003-21,Aralık.
  • Calvo, Guillermo ve Reinhart, Carmen (2000): Fixing For Your Life, NBER Working Paper Series, Working Paper 8006, November.
  • Caporale, G.M, Luis A. Gill Alana ve Kefei You (2016) “Exchange Rate Linkages Between Asean Curencies, The US Dollar and The Chines Renminbi” Bank of Finland Research, Discussion Paper, 20.
  • Cumings, B. (1999) The Asian Crisis, Democracy and the End of Late Development” In T.J. Pempel (ed) The Politics of Asian Economic Crisis, Ithaca NY: Cornell University Press 17-44.
  • IMF (2000) 1960-2000. Annual Reports on Exchange Arrangements and Exchange Restrictions. Washington, D.C.
  • IMF (2012). Financial Operations and Transactions, Appendix II.
  • IMF (2017). Annual Report on Exchange Arrangements and Exchange Restrictions, October.
  • Frankel, Jeffrey A. (1999). “No Single Currency is Right for All Countries or at all Times,” Princeton Essays in International Finance 215. International Finance Section. Department of Economics. Princeton University. Princeton NJ.
  • Frankel,Jeffrey A. (2004) “Experience and Lessons from Exchange Rate Regimes in Emerging Economies”, Monetary and Financial Integration, Vol. 2, 91-138, Palgrave Macmillan Press, New York.
  • Hamilton-Hart, Natasha, (2011). Distribution Domestic Policies and Monetary Cooperation in East Asia, ADBI, Working Paper Series, No.332
  • Kawai, Masahiro ve Victor Pontines,(2014). The Renminbi and Excahnge Rate Regimes in Asia, ADBI Working Paper Series, N0.484, May. Asian Development Bank.
  • Kroeber, Arthur R. (2017). Çin Ekonomisi, Buzdağı Yayınevi, Ankara.
  • Krugman, Paul (2010). Bunalım Ekonomisinin Geri Dönüşü ve Küresel Kriz, 6. Basım, Literatür Yayınları, İstanbul.
  • McKinnon, R. (2001) After the Crisis The East Asian Dollar Standard Resurrected: An Interpretation oh High Frequency Exchange Rate Pegging, HKIMR Working Paper No. 04/2001
  • Tiwari, Rajnish, (2003). Post-Crisis Excahnge Rate Regimes in South East Asia: An Emprical Survey of De Facto Policies, Seminar Paper, University of Hamburg, online available: http://www.rrz.uni-hamburg.de/RRZ/R.Tiwari/papers/exchange-rate.pdf
  • Wang, Hongying (2014). “The Political Economy of Exchange Rates in East Asia”, Handbook of the International Political Economy of Monetary Relations Edited by Thomas Oatley and W. Kindred Wincoff, Edward Elgar Publishing, UK. 2014.
There are 17 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Nuray Terzi This is me 0000-0002-4141-7529

Publication Date December 30, 2018
Published in Issue Year 2018 Volume: 8 Issue: 1

Cite

APA Terzi, N. (2018). AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES. PressAcademia Procedia, 8(1), 61-65. https://doi.org/10.17261/Pressacademia.2018.982
AMA Terzi N. AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES. PAP. December 2018;8(1):61-65. doi:10.17261/Pressacademia.2018.982
Chicago Terzi, Nuray. “AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES”. PressAcademia Procedia 8, no. 1 (December 2018): 61-65. https://doi.org/10.17261/Pressacademia.2018.982.
EndNote Terzi N (December 1, 2018) AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES. PressAcademia Procedia 8 1 61–65.
IEEE N. Terzi, “AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES”, PAP, vol. 8, no. 1, pp. 61–65, 2018, doi: 10.17261/Pressacademia.2018.982.
ISNAD Terzi, Nuray. “AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES”. PressAcademia Procedia 8/1 (December 2018), 61-65. https://doi.org/10.17261/Pressacademia.2018.982.
JAMA Terzi N. AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES. PAP. 2018;8:61–65.
MLA Terzi, Nuray. “AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES”. PressAcademia Procedia, vol. 8, no. 1, 2018, pp. 61-65, doi:10.17261/Pressacademia.2018.982.
Vancouver Terzi N. AN ANALYSIS OF EXCHANGE RATE POLICIES OF ASIAN ECONOMIES. PAP. 2018;8(1):61-5.

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