Exchange Rate Crisis in Developing Countries
The Political Role of the Banking Sector
Michael G. Hall(Author)
Ashgate Publishing Limited
Published on 28. November 2005
Book
Hardback
246 pages
978-0-7546-4346-3 (ISBN)
Description
According to many economists, the increasing mobility of capital across borders has made it more costly to peg exchange rates. This phenomenon has contributed to some of the more famous examples of exchange rate crises in recent times, such as the Mexican peso crisis in 1994 and the Asian financial crisis in 1997. Yet despite the increasing costs of pegging in today's accelerated financial markets, some developing countries try to maintain a peg for as long as they can. This work is the first to theorize the role of bankers as a domestic interest group involved in exchange rate policy. It adds to our understanding of how interest groups affect economic policy in developing countries and explains why some of the largest and fastest growing economies in the developing world were the most prone to crisis. The volume also refines our understanding of the 'hollowing-out thesis', the argument that increasing capital mobility is forcing states to abandon pegging.
More details
Series
Language
English
Place of publication
United Kingdom
Publishing group
Taylor & Francis Ltd
Target group
Professional and scholarly
Illustrations
Illustrations
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-0-7546-4346-3 (9780754643463)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Person
Michael Hall is Assistant Professor in the Department of Political Science at the University of Northern Iowa, USA.
Content
To peg or not to peg, that is the question; Theories of exchange-rate regime determination; Statistical tests; Thailand; Mexico; Peru; Colombia; Conclusions; Appendix: Further statistical tests; Bibliography; Index.