Asian Financial Crisis.Prologue and the Case of Thailand |
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| Authors: | Hiroki Tsurumi |
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| Affiliation: | (1) Department of Economics, Rutgers University, New Brunswick, NJ, U.S.A. |
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| Abstract: | We suggest that the Asian financial crisis began because of theinconsistent exchange rate system and miss-management within Thailand. We showthat prior tothe Asian financial crisis the Thai Baht against the Yen followed the theoryofpurchasing power parity but the Baht against the U.S. Dollar did not. We givebriefsummaries of the papers included in this issue. |
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| Keywords: | Asian financial crisis foreign exchange rate moral hazard purchasing power parity |
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