The Spread of International Financial Shocks to ASEAN Countries
University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE)
December 1, 2009
GATE Working Paper No. 09-28
This article focuses on the reaction of Asean economies to international financial shocks. The crises in emerging markets at the end of the last century underlined the vulnerability of emerging Asean economies to international financial fluctuations and a lack of sustainability in their exchange rate regime. A Structural VAR model is used to analyze the efficiency of the measures adopted by these countries, after this crisis episode, to protect their economies against speculative attacks. The results reveal that the impact of the current subprime crisis on emerging Asean countries is less significant than that observed in industrialized ones.
Number of Pages in PDF File: 37
Keywords: Asean countries, international financial fluctuations, macroeconomic impact, regional integration, SVAR Model
JEL Classification: C32, F41, G15working papers series
Date posted: February 17, 2010 ; Last revised: April 6, 2011
© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo1 in 0.297 seconds