| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2868 |
| DP2868 Foreign Direct Investment and Efficiency Benefits: A Conditional Quantile Analysis | |
| S. Dimelis; Eleni Louri-Dendrinou | |
| 发表日期 | 2001-06-18 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | This study seeks to determine if there were identifiable contrasts between the Austrian and Thai pegs that would have hinted at problems for Thailand prior to July 1997. The strategy is to first estimate a reaction function of a successful pegging country, i.e. Austria, to help identify salient features that made the Austrian peg credible. Next, the same model is applied to Thailand's monetary policy, an East Asian country that maintained one of the tightest pegs to the US dollar prior to its collapse. One lesson for pegging countries that emerges from the empirical results is that they ought to behave like assiduous inflation targeters even when there is no pressure on the exchange rate. A second lesson is that care is needed in choosing an anchor currency, because the major currencies experience wide swings against one another. |
| 主题 | International Macroeconomics |
| URL | https://cepr.org/publications/dp2868 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531908 |
| 推荐引用方式 GB/T 7714 | S. Dimelis,Eleni Louri-Dendrinou. DP2868 Foreign Direct Investment and Efficiency Benefits: A Conditional Quantile Analysis. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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