Exchange Rates and Global Financial Policies

Until the early 90s⁄ corporate finance managers in India were given very little freedom in the choice of key financial policies as the government regulated the pricing of debt and equity instruments and directed the flow of credit. Financial sector reform over the last six years has exposed managers to complex financial choices amidst increased volatility of interest rates and exchange rates, and made them accountable to an increasingly competitive financial marketplace. Nevertheless, the slow pace of financial liberalization so far has given Indian corporates the luxury of learning slowly and adapting gradually. Gradualism has also meant that there is a large unfinished agenda of financial sector reforms. According to Jayanth Varma⁄ Indian companies should now prepare themselves for further changes that lie ahead. The East Asian crisis is a warning for the Indian corporate sector to pursue more prudent and sustainable financial policies.

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Foreign exchange rates in Colombia, 1870–1970

Coffee in Colombia, 1850–1970 ◽

10.1017/cbo9780511572869.016 ◽

1980 ◽

pp. 261-264

Keyword(s):

Exchange Rates ◽

Foreign Exchange ◽

Foreign Exchange Rates

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Democratization and exchange rates

10.32469/10355/40134 ◽

2013 ◽

Author(s):

Byunghwan Son

Keyword(s):

Exchange Rates

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Fear of Free Floating or Forced Exchange Rate Fixing

Voprosy Ekonomiki ◽

10.32609/0042-8736-2004-6-112-122 ◽

2004 ◽

pp. 112-122

Author(s):

O. Osipova

Keyword(s):

Exchange Rate ◽

Financial Crisis ◽

Exchange Rates ◽

Inflation Targeting ◽

Exchange Rate Policy ◽

Float Exchange Rate ◽

Floating Exchange Rate ◽

Rate Policy ◽

Exchange Rate Arrangements ◽

Pass Through

After the financial crisis at the end of the 1990 s many countries rejected fixed exchange rate policy. However actually they failed to proceed to announced "independent float" exchange rate arrangement. This might be due to the "fear of floating" or an irreversible result of inflation targeting central bank policy. In the article advantages and drawbacks of fixed and floating exchange rate arrangements are systematized. Features of new returning to exchange rates stabilization and possible risks of such policy for Russia are considered. Special attention is paid to the issue of choice of a "target" currency composite which can minimize external inflation pass-through.

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J. Tobin's Monetary Dynamic Model and the Analysis of Russian Economy

Voprosy Ekonomiki ◽

10.32609/0042-8736-2009-3-70-93 ◽

2009 ◽

pp. 70-93

Author(s):

V. Manevich

Keyword(s):

Dynamic Model ◽

Economic Thought ◽

Financial Policies ◽

Russian Economy ◽

Q Theory ◽

Keynesian Economic ◽

The Relationship ◽

Monetary Assets

The paper considers the monetary dynamic model developed by J. Tobin, the leader of Keynesian economic thought in 1970-1990. Particularly, the author examines q-theory of investment proposed by Tobin which allows to expose the relationship between supply of monetary assets and investment in real capital. Application of various tools of monetary and financial policies is also considered in its different forms. The author aspires to use Tobin's model for the analysis of processes existing in the Russian economy and to test theoretical propositions and relationships elaborated by Tobin on Russian statistics.

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An Empirical Investigation of Factors Affecting Stock Prices in Vietnam

Journal of Economics and Development ◽

10.33301/2014.16.01.05 ◽

2014 ◽

pp. 74-89 ◽

Cited By ~ 1

Author(s):

Vinh Vo Xuan

Keyword(s):

Exchange Rates ◽

Crude Oil ◽

Foreign Exchange ◽

Stock Prices ◽

Global Financial Crisis ◽

Oil Prices ◽

Foreign Exchange Rates ◽

Factors Affecting ◽

Crude Oil Prices ◽

Before And After

This paper investigates factors affecting Vietnam’s stock prices including US stock prices, foreign exchange rates, gold prices and crude oil prices. Using the daily data from 2005 to 2012, the results indicate that Vietnam’s stock prices are influenced by crude oil prices. In addition, Vietnam’s stock prices are also affected significantly by US stock prices, and foreign exchange rates over the period before the 2008 Global Financial Crisis. There is evidence that Vietnam’s stock prices are highly correlated with US stock prices, foreign exchange rates and gold prices for the same period. Furthermore, Vietnam’s stock prices were cointegrated with US stock prices both before and after the crisis, and with foreign exchange rates, gold prices and crude oil prices only during and after the crisis.

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