2017年6月
Impacts of Foreign Exchange Auctions on the Informal Market Rate in Myanmar
GLOBAL ECONOMIC REVIEW
- 巻
- 46
- 号
- 2
- 開始ページ
- 189
- 終了ページ
- 202
- 記述言語
- 英語
- 掲載種別
- 研究論文(学術雑誌)
- DOI
- 10.1080/1226508X.2017.1292858
- 出版者・発行元
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Since the abolition of the official peg and the introduction of a managed float in April 2012, the Central Bank of Myanmar has operated the daily auctions of foreign exchange aimed at smoothing exchange rate fluctuations. Despite the reforms, however, informal trading of foreign exchange remains pervasive. Using the daily informal exchange rate and Central Bank auction data, this study examines the impacts of auctions on the informal rate. Generalized autoregressive conditional heteroskedasticity models indicate that the auctions did not reduce the conditional variance of the informal rate returns. Overall, the auctions have only a quite modest impact on the informal exchange rate.
- リンク情報
- ID情報
-
- DOI : 10.1080/1226508X.2017.1292858
- ISSN : 1226-508X
- eISSN : 1744-3873
- ORCIDのPut Code : 52284317
- Web of Science ID : WOS:000400250300006