Exchange Rate Policies: Fact or Fiction in the Rise of High Performance Asian Economies

Turan Subasat ()

No 802, Working Papers from Izmir University of Economics

Abstract: Many economists believe that the nature of exchange rate management was an important reason for rapid economic growth in East Asia. In this view, Asian countries avoided extreme exchange rate appreciations and kept their nominal exchange rates close to market clearing levels. In contrast, the inappropriate exchange rate policies pursued by many Latin American and African countries in the late 1970s and 1980s contributed a great deal towards their poor economic performance. This paper challenges the above views on the type of exchange rate policies adopted by the East Asian, Latin American and African countries. The empirical evidence fails to prove that the exchange rate policies of the East Asian economies were significantly different from those of other developing countries.

Keywords: Exchange rate policy; Trade policy; East Asian Miracle; exports growth; economic growth (search for similar items in EconPapers)
JEL-codes: F1 O24 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2008-02
New Economics Papers: this item is included in nep-cba, nep-ifn and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://eco.ieu.edu.tr/wp-content/wp0802.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:izm:wpaper:0802

Access Statistics for this paper

More papers in Working Papers from Izmir University of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ayla Ogus Binatli ().