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| Author: | Li, Qingyun |
| Title: | Asian financial crisis and asymmetry demands for foreign exchange (original in Chinese) |
| Journal: | Economic Science (c)
1998 : 5, p.5-11 |
| Index terms: | FOREIGN EXCHANGE MONEY DEMAND |
| Language: | chn |
| Abstract: | Starting with the special status of US dollar in the international currency system, this paper mainly analyzes the characteristics of the open economy of a small country and asymmetry of demands for foreign exchange before and after the financial liberalization. The developing countries' common demand for US dollar the link between international trade and international investment and the interaction of foreign exchange markets also make one country's fluctuation of exchange rate produce interactive effect. It has not only played a certain role in touching off financial crisis but also caused financial panic, intensified the fluctuation of exchange rate, worsened and prolonged the Asian financial crisis. |
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