Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

Are Devaluations Contractionary in Asia?

Mohsen Bahmani-Oskooee, Souphala Chomsisengphet and Magda Kandil
Journal of Post Keynesian Economics
Vol. 25, No. 1 (Autumn, 2002), pp. 69-81
Published by: Taylor & Francis, Ltd.
Stable URL: http://www.jstor.org/stable/4538812
Page Count: 13
  • Download ($45.00)
  • Cite this Item
Are Devaluations Contractionary in Asia?
Preview not available

Abstract

The main purpose of this paper is to determine empirically whether currency depreciation is expansionary or contractionary in Asian countries. It is argued that by disrupting the operation of the financial sector and by introducing uncertainty among consumers and investors, currency depreciation could be contractionary. A reduced-form model is introduced and tested by means of cointegration analysis. The results support our theoretical argument that in many Asian countries depreciation is contractionary.

Page Thumbnails

  • Thumbnail: Page 
69
    69
  • Thumbnail: Page 
70
    70
  • Thumbnail: Page 
71
    71
  • Thumbnail: Page 
72
    72
  • Thumbnail: Page 
73
    73
  • Thumbnail: Page 
74
    74
  • Thumbnail: Page 
75
    75
  • Thumbnail: Page 
76
    76
  • Thumbnail: Page 
77
    77
  • Thumbnail: Page 
78
    78
  • Thumbnail: Page 
79
    79
  • Thumbnail: Page 
80
    80
  • Thumbnail: Page 
81
    81