The Resource Liberalized markets have more stable exchange rates : short-run evidence from four transition countries, Aleš Buliř

Liberalized markets have more stable exchange rates : short-run evidence from four transition countries, Aleš Buliř

Label
Liberalized markets have more stable exchange rates : short-run evidence from four transition countries
Title
Liberalized markets have more stable exchange rates
Title remainder
short-run evidence from four transition countries
Statement of responsibility
Aleš Buliř
Creator
Contributor
Author
Issuing body
Subject
Language
eng
Summary
The paper looks at the hypothesis that financial market liberalization can create a basis for more stable exchange rates, as deviations of exchange rates from equilibrium levels bring forth stabilizing flows of liquidity. This "endogenous liquidity" hypothesis suggests that opening financial markets militates in favor of exchange rate flexibility by increasing the viability of a floating regime, as well as making it more difficult to maintain a peg. The paper examines this hypothesis in a sample of four transition economies and finds that exchange rates tend to return faster to their Hodrick-Prescott-based values where markets are liberalized. The results suggest that early and successful foreign exchange liberalization pays off in terms of depth of the market and, hence, faster adjustment of exchange rate to shocks. Moreover, it implies that central banks should not be overly concerned with short-run volatility of their national exchange rates, given the self-correcting tendencies
Member of
Action
digitized
Cataloging source
OCLCE
Dewey number
331.2948
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.04/35
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/04/35
Label
Liberalized markets have more stable exchange rates : short-run evidence from four transition countries, Aleš Buliř
Publication
Antecedent source
file reproduced from original
Bibliography note
  • "February 2004."
  • Includes bibliographical references (pages 30-31)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn647364255
Dimensions
unknown
Extent
1 online resource (31 pages)
File format
one file format
Form of item
online
Isbn
9781451892888
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
http://library.link/vocab/recordID
.b37167066
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)647364255
  • imf1281271543
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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