Exchange rate regimes in post-crisis Asia: What explains the "Hollowing of the middle"

Research output: Journal PublicationsJournal Article (refereed)

Abstract

The exchange rate regimes of the Asian countries and their subsequent collapse played key roles in the financial crisis. This prompted a renewed debate over the best choice of exchange rate arrangements, particularly for emerging markets. How should emerging markets, at present, structure their exchange rate system in order to provide stability and to prevent new crises from occurring? It is argued in the literature that only polar extremes (floating or fixed) are viable. This paper outlines the core ideas of the emerging debate and examines the reason for this shift identified as the "hollowing of the middle".

Original languageEnglish
Pages (from-to)3-21
Number of pages19
JournalGlobal Economic Review
Volume30
Issue number4
DOIs
Publication statusPublished - 1 Dec 2001
Externally publishedYes

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rate of exchange
market
floating
financial crisis
present
Asia
Exchange rate regimes
Emerging markets
literature
Financial crisis
Asian countries
Floating
Exchange rate arrangements
Exchange rate systems

Cite this

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Exchange rate regimes in post-crisis Asia : What explains the "Hollowing of the middle". / Sharma, Shalendra D.

In: Global Economic Review, Vol. 30, No. 4, 01.12.2001, p. 3-21.

Research output: Journal PublicationsJournal Article (refereed)

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