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Getting out from between a rock and a hard place [An article from: Journal of International Financial Markets, Institutions & Money]
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This digital document is a journal article from Journal of International Financial Markets, Institutions & Money, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
Recently, the central bank of China lent part of its enormous reserve of foreign exchange to two of its largest banks in difficulty. This seemed to be a very clever policy response since the capital infusion did not affect the money supply nor sacrifice the currency peg as has traditionally been the case. This paper considers the viability of this policy and asks why other Southeast Asian countries with large reserves of foreign exchange did not adopt a similar approach to combat their bank problems in the 1990s.
Description:
Recently, the central bank of China lent part of its enormous reserve of foreign exchange to two of its largest banks in difficulty. This seemed to be a very clever policy response since the capital infusion did not affect the money supply nor sacrifice the currency peg as has traditionally been the case. This paper considers the viability of this policy and asks why other Southeast Asian countries with large reserves of foreign exchange did not adopt a similar approach to combat their bank problems in the 1990s.
