메뉴 건너뛰기




Volumn 12, Issue 3, 2001, Pages 353-381

Capital flows and exchange rates: Recent Korean and Taiwanese experience and challenges

Author keywords

Asian financial crisis; Causality test; Cointegration; Korea; Short term debts; Taiwan

Indexed keywords


EID: 0035457291     PISSN: 10490078     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1049-0078(01)00092-6     Document Type: Article
Times cited : (16)

References (57)
  • 3
    • 0009008255 scopus 로고    scopus 로고
    • The Role of Macroeconomic and Financial Sector Linkages in East Asia' Financial Crisis
    • P.R. Agenor, M. Miller, D. Vines, & A. Weber. Cambridge, UK: Cambridge University Press
    • Alba P., Bhattacharya A., Claessens S., Ghosh S., Henandez L. The Role of Macroeconomic and Financial Sector Linkages in East Asia' Financial Crisis. Agenor P.R., Miller M., Vines D., Weber A. The Asian financial crisis causes, contagion and consequences . 1999;9-66 Cambridge University Press, Cambridge, UK.
    • (1999) The Asian financial crisis: Causes, contagion and consequences , pp. 9-66
    • Alba, P.1    Bhattacharya, A.2    Claessens, S.3    Ghosh, S.4    Henandez, L.5
  • 4
    • 0003666179 scopus 로고    scopus 로고
    • Oxford, UK: Oxford University Press
    • Asian development outlook 2000. 2000;Oxford University Press, Oxford, UK.
    • (2000) Asian development outlook 2000
  • 6
    • 0002491109 scopus 로고    scopus 로고
    • Capital flow reversals, the exchange rate debate, and dollarization
    • Calvo G.A., Reinhart C.M. Capital flow reversals, the exchange rate debate, and dollarization. Finance and Development. 36:(3):1999;13-15.
    • (1999) Finance and Development , vol.36 , Issue.3 , pp. 13-15
    • Calvo, G.A.1    Reinhart, C.M.2
  • 7
    • 0007106718 scopus 로고    scopus 로고
    • Differing approaches, differing outcomes: Industrial priorities, financial markets, and the crisis in Korea and Taiwan
    • P.C.Y. Chow, & B. Gill. Washington, DC: Brooking Institution Press
    • Chen T.J., Ku Y.H. Differing approaches, differing outcomes industrial priorities, financial markets, and the crisis in Korea and Taiwan . Chow P.C.Y., Gill B. Weathering the storm Taiwan, its neighbors, and the Asian financial crisis . 2000;111-146 Brooking Institution Press, Washington, DC.
    • (2000) Weathering the storm: Taiwan, its neighbors, and the Asian financial crisis , pp. 111-146
    • Chen, T.J.1    Ku, Y.H.2
  • 9
    • 0002600257 scopus 로고    scopus 로고
    • The Asian crisis: Lessons from the collapse of financial systems, exchange rates and macroeconomic policy
    • P.R. Agenor, M. Miller, D. Vines, & A. Weber. Cambridge, UK: Cambridge University Press
    • Corbett J., Vines D. The Asian crisis lessons from the collapse of financial systems, exchange rates and macroeconomic policy . Agenor P.R., Miller M., Vines D., Weber A. The Asian financial crisis causes, contagion and consequences . 1999;67-111 Cambridge University Press, Cambridge, UK.
    • (1999) The Asian financial crisis: Causes, contagion and consequences , pp. 67-111
    • Corbett, J.1    Vines, D.2
  • 10
    • 0007057724 scopus 로고    scopus 로고
    • Lessons from the Asian crisis
    • J.R. Bisignano, W.C. Hunter, & G.G. Kaufman. Boston: Kluwer Academic Publishers
    • Crockett A. Lessons from the Asian crisis. Bisignano J.R., Hunter W.C., Kaufman G.G. Global Financial Crisis Lessons from recent events . 2000;7-16 Kluwer Academic Publishers, Boston.
    • (2000) Global Financial Crisis: Lessons from recent events , pp. 7-16
    • Crockett, A.1
  • 11
    • 85036258669 scopus 로고
    • Distribution of the estimators for autoregressive time series with a unit root
    • Dickey D.A., Fuller W.A. Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association. 74:(366):1979;427-431.
    • (1979) Journal of the American Statistical Association , vol.74 , Issue.366 , pp. 427-431
    • Dickey, D.A.1    Fuller, W.A.2
  • 12
    • 0000472488 scopus 로고
    • Likelihood ratio statistics for autoregressive time series with a unit root
    • Dickey D.A., Fuller W.A. Likelihood ratio statistics for autoregressive time series with a unit root. Econometrica. 49:(4):1981;1057-1072.
    • (1981) Econometrica , vol.49 , Issue.4 , pp. 1057-1072
    • Dickey, D.A.1    Fuller, W.A.2
  • 14
    • 0007109224 scopus 로고    scopus 로고
    • Tokyo: EPA. (in Japanese)
    • Asian Economy. 1998;EPA, Tokyo. (in Japanese).
    • (1998) Asian Economy
  • 15
    • 0007061423 scopus 로고    scopus 로고
    • Tokyo: EPA. (in Japanese)
    • Asian Economy, 1999. 1998;EPA, Tokyo. (in Japanese).
    • (1998) Asian Economy, 1999
  • 16
    • 0007102272 scopus 로고    scopus 로고
    • Tokyo: EPA. (in Japanese)
    • Asian Economy, 2000. 1998;EPA, Tokyo. (in Japanese).
    • (1998) Asian Economy, 2000
  • 18
    • 0000013567 scopus 로고
    • Cointegration and error correction: Representation, estimation, and testing
    • Engle R.F., Granger C.W.J. Cointegration and error correction representation, estimation, and testing . Econometrica. 55:(2):1987;251-276.
    • (1987) Econometrica , vol.55 , Issue.2 , pp. 251-276
    • Engle, R.F.1    Granger, C.W.J.2
  • 20
    • 45949119851 scopus 로고
    • Forecasting and testing in co-integrated systems
    • Engle R.F., Yoo B.S. Forecasting and testing in co-integrated systems. Journal of Econometrics. 35:1987;143-159.
    • (1987) Journal of Econometrics , vol.35 , pp. 143-159
    • Engle, R.F.1    Yoo, B.S.2
  • 25
    • 0000351727 scopus 로고
    • Investigating causal relations by econometric models and cross-spectral methods
    • Granger C.W.J. Investigating causal relations by econometric models and cross-spectral methods. Econometrica. 37:(3):1969;424-438.
    • (1969) Econometrica , vol.37 , Issue.3 , pp. 424-438
    • Granger, C.W.J.1
  • 26
    • 0007061424 scopus 로고    scopus 로고
    • Taiwanese economic development and foreign trade.
    • In J. Y. T. Kuark (Ed.)
    • Hsiao, F. S. T., & Hsiao, M. C. W. (1996). Taiwanese economic development and foreign trade. In J. Y. T. Kuark (Ed.), Contemporary studies in economic and financial analysis: comparative Asian economies (Vol. 77, Part B, pp. 211-302). Greenwich, CT: JAI Press. Originally published in Fairbank Center Discussion Paper No. 9, 1994, Harvard University, and also in Harvard Studies on Taiwan: Papers of the Taiwan Studies Workshop, Volume I. William Kirby and Megan Greene, eds., The John King Fairbank Center for East Asian Research, Harvard University, 1995.
    • (1996) Contemporary studies in economic and financial analysis: comparative Asian economies , vol.77 , Issue.PART B , pp. 211-302
    • Hsiao F. S., T.1    Hsiao M. C., W.2
  • 27
    • 0007013941 scopus 로고
    • Harvard University, and also in William Kirby and Megan Greene, eds. Harvard University
    • Hsiao, F. S. T., & Hsiao, M. C. W. (1996). Taiwanese economic development and foreign trade. In J. Y. T. Kuark (Ed.), Contemporary studies in economic and financial analysis: comparative Asian economies (Vol. 77, Part B, pp. 211-302). Greenwich, CT: JAI Press. Originally published in Fairbank Center Discussion Paper No. 9, 1994, Harvard University, and also in Harvard Studies on Taiwan: Papers of the Taiwan Studies Workshop, Volume I. William Kirby and Megan Greene, eds., The John King Fairbank Center for East Asian Research, Harvard University, 1995.
    • (1994) Fairbank Center Discussion Paper , vol.9
  • 28
    • 0007144311 scopus 로고
    • Harvard Studies on Taiwan: Papers of the Taiwan Studies Workshop
    • Hsiao, F. S. T., & Hsiao, M. C. W. (1996). Taiwanese economic development and foreign trade. In J. Y. T. Kuark (Ed.), Contemporary studies in economic and financial analysis: comparative Asian economies (Vol. 77, Part B, pp. 211-302). Greenwich, CT: JAI Press. Originally published in Fairbank Center Discussion Paper No. 9, 1994, Harvard University, and also in Harvard Studies on Taiwan: Papers of the Taiwan Studies Workshop, Volume I. William Kirby and Megan Greene, eds., The John King Fairbank Center for East Asian Research, Harvard University, 1995.
    • (1995) The John King Fairbank Center for East Asian Research , vol.1
  • 29
    • 0007114985 scopus 로고    scopus 로고
    • The historical Traditions of Taiwanese small-and-medium enterprises
    • F.S. Huang, & K.I. Ang. Taipei, Taiwan: Academia Sinica
    • Hsiao F.S.T., Hsiao M.C.W. The historical Traditions of Taiwanese small-and-medium enterprises. Huang F.S., Ang K.I. Taiwan's commercial traditions collected papers . 1999;465-524 Academia Sinica, Taipei, Taiwan.
    • (1999) Taiwan's commercial traditions: Collected papers , pp. 465-524
    • Hsiao, F.S.T.1    Hsiao, M.C.W.2
  • 30
    • 0035457291 scopus 로고    scopus 로고
    • Economic liberalization and development - The case of lifting martial Law in Taiwan
    • Taiwan Study Promotion Committee Taipei, Taiwan: Academia Sinica, Institute of Taiwanese History Preparatory Office
    • Hsiao F.S.T., Hsiao M.C.W. Economic liberalization and development - the case of lifting martial Law in Taiwan. Taiwan Study Promotion Committee. The transformation of an authoritarian regime Taiwan in the post-martial law era . 2001;353-379 Academia Sinica, Institute of Taiwanese History Preparatory Office, Taipei, Taiwan.
    • (2001) The transformation of an authoritarian regime: Taiwan in the post-martial law era , pp. 353-379
    • Hsiao, F.S.T.1    Hsiao, M.C.W.2
  • 32
    • 4243380596 scopus 로고    scopus 로고
    • Taiwan in the global economy - past, present, and future.
    • In P. Chow (Ed.) Greenwood Press, in press.
    • Hsiao, F. S. T., & Hsiao, M. C. W. (2002). Taiwan in the global economy - past, present, and future. In P. Chow (Ed.), Taiwan's modernization in global perspective. Greenwood Press, in press.
    • (2002) Taiwan's modernization in global perspective.
    • Hsiao F. S., T.1    Hsiao M. C., W.2
  • 33
    • 0000207939 scopus 로고
    • Tests of causality and exogeneity between exports and economic growth: The case of Asian NICs
    • Hsiao M.C.W. Tests of causality and exogeneity between exports and economic growth the case of Asian NICs . Journal of Economic Development. 12:(2):1987;143-159.
    • (1987) Journal of Economic Development , vol.12 , Issue.2 , pp. 143-159
    • Hsiao, M.C.W.1
  • 34
    • 0007009044 scopus 로고    scopus 로고
    • The Asian financial crisis: A comparative analysis of Taiwan experience
    • Taipei, Taiwan: Academia Sinica
    • Hu S.C., Lin J.L., Shea J.D., Wu C.S. The Asian financial crisis a comparative analysis of Taiwan experience . Working paper, Institute of Economics. 1998;Academia Sinica, Taipei, Taiwan.
    • (1998) Working paper, Institute of Economics
    • Hu, S.C.1    Lin, J.L.2    Shea, J.D.3    Wu, C.S.4
  • 35
    • 0007144313 scopus 로고    scopus 로고
    • On the financial crisis in East Asian economies
    • Kitakyushu, Japan: The International Centre for the Study of East Asian Development
    • Ichimura S., James W., Ramstetter E.D. On the financial crisis in East Asian economies. Working Paper Series. Vol. 98-14:1998;The International Centre for the Study of East Asian Development, Kitakyushu, Japan.
    • (1998) Working Paper Series , vol.9814
    • Ichimura, S.1    James, W.2    Ramstetter, E.D.3
  • 36
    • 0007011623 scopus 로고    scopus 로고
    • Philippines - Recent economic development
    • Washington, DC: International Monetary Fund
    • Philippines - recent economic development. Staff Country Report, No. 97/28. 1997;International Monetary Fund, Washington, DC.
    • (1997) Staff Country Report, No. 97/28
  • 38
    • 0003518334 scopus 로고    scopus 로고
    • Washington, DC: International Monetary Fund
    • International financial statistics. 1999;International Monetary Fund, Washington, DC.
    • (1999) International financial statistics
  • 41
    • 0039624712 scopus 로고    scopus 로고
    • The twin crises: The causes of banking and balance-of-payments problems
    • Kaminsky G.L., Reinhart C.M. The twin crises the causes of banking and balance-of-payments problems . American Economic Review. 89:1999;473-500.
    • (1999) American Economic Review , vol.89 , pp. 473-500
    • Kaminsky, G.L.1    Reinhart, C.M.2
  • 42
    • 0000575306 scopus 로고    scopus 로고
    • The resolution of the East Asian crisis: Financial and corporate sector restructuring
    • Kawai M. The resolution of the East Asian crisis financial and corporate sector restructuring . Journal of Asian Economics. 11:(2):2000;133-168.
    • (2000) Journal of Asian Economics , vol.11 , Issue.2 , pp. 133-168
    • Kawai, M.1
  • 43
    • 0004253434 scopus 로고    scopus 로고
    • What happened to Asia?
    • Cambridge, MA. January.
    • Krugman, P. (1998). What happened to Asia? Mimeo., MIT, Cambridge, MA. January.
    • (1998) Mimeo., MIT
    • Krugman, P.1
  • 44
    • 0001151511 scopus 로고    scopus 로고
    • Lessons from the Euro Zone for the East Asian economies
    • Letiche J.M. Lessons from the Euro Zone for the East Asian economies. Journal of Asian Economics. 11:(3):2000;275-300.
    • (2000) Journal of Asian Economics , vol.11 , Issue.3 , pp. 275-300
    • Letiche, J.M.1
  • 47
    • 0007061207 scopus 로고    scopus 로고
    • Was Korea's financial crisis self-fulfilling?
    • Park W.A. Was Korea's financial crisis self-fulfilling? The Journal of the Korean Economy. 1:(2):2000;301-323.
    • (2000) The Journal of the Korean Economy , vol.1 , Issue.2 , pp. 301-323
    • Park, W.A.1
  • 48
    • 0007056580 scopus 로고    scopus 로고
    • East Asian liberalization, bubbles, and challenges from China.
    • Park, Y. C. (1996). East Asian liberalization, bubbles, and challenges from China. Brookings Papers on Economic Activity, 2.
    • (1996) Brookings Papers on Economic Activity , pp. 2
    • Park1    Y., C.2
  • 49
    • 4243381324 scopus 로고    scopus 로고
    • Conference papers on Taiwan economic policy in post-Asian financial crisis (in Chinese).
    • Policy Studies Taiwan: Academia Sinica.
    • Policy Studies (1999). Conference papers on Taiwan economic policy in post-Asian financial crisis (in Chinese). Taiwan economic forecasting and policy, Vol. 30, No. 1 (pp. 85-164). Taiwan: Academia Sinica.
    • (1999) Taiwan economic forecasting and policy , vol.30 , Issue.1 , pp. 85-164
  • 50
    • 0003265677 scopus 로고    scopus 로고
    • The East Asian financial crisis: Diagnosis, remedies, prospects
    • Harvard Institute for International Development
    • Radelet S., Sachs J. The East Asian financial crisis diagnosis, remedies, prospects . Working Paper. 1998;Harvard Institute for International Development.
    • (1998) Working Paper
    • Radelet, S.1    Sachs, J.2
  • 51
    • 0003399893 scopus 로고    scopus 로고
    • What have we learned, so far, from the Asian financial crisis?
    • Harvard Institute for International Development
    • Radelet S., Sachs J. What have we learned, so far, from the Asian financial crisis? Working Paper. 1999;Harvard Institute for International Development.
    • (1999) Working Paper
    • Radelet, S.1    Sachs, J.2
  • 54
    • 0003682162 scopus 로고    scopus 로고
    • Taipei, Taiwan: Council for Economic Planning and Development.
    • Taiwan Statistical Data Book (2000). Taipei, Taiwan: Council for Economic Planning and Development.
    • (2000) Taiwan Statistical Data Book
  • 55
    • 0007007839 scopus 로고    scopus 로고
    • Economists blame short-term loans for Asian crisis.
    • Business section, January 8.
    • Uchitelle, L. (1998). Economists blame short-term loans for Asian crisis. The New York Times, Business section, January 8.
    • (1998) The New York Times
    • Uchitelle, L.1
  • 56
    • 0007102275 scopus 로고    scopus 로고
    • Taiwan and the Asian financial crisis impact and response
    • P.C.Y. Chow, & B. Gill. Washington, DC: Brooking Institution
    • Wang J.C. Taiwan and the Asian financial crisis impact and response. Chow P.C.Y., Gill B. Weathering the storm Taiwan, its neighbors, and the Asian financial crisis . 2000;147-168 Brooking Institution, Washington, DC.
    • (2000) Weathering the storm: Taiwan, its neighbors, and the Asian financial crisis , pp. 147-168
    • Wang, J.C.1
  • 57
    • 0007063278 scopus 로고    scopus 로고
    • Coping with the Asian financial crisis: The Taiwan experience
    • Yang Y.H. Coping with the Asian financial crisis the Taiwan experience . Seoul Journal of Economics. 11:(4):1998;423-445.
    • (1998) Seoul Journal of Economics , vol.11 , Issue.4 , pp. 423-445
    • Yang, Y.H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.