Earticle

초록

영어

Recently, a question arises how interest rate differential affects the exchange rate over the capital inflow on stock and vice versa. As a matter of fact, the Korean policy interest rate has been higher than that of the United States. while the United States interest rate is, sometimes, higher than that of Korea. Especially, in these days. the United States policy interest rate has been lowered down due to the subprime mortgage problems and the interest rate differential has been widened. Consequently, a serious concern about its effect on the Won/Dollar exchange rate has been arisen in the 4th quarter of 2008. In this respect, this paper would like to find out the empirical correlation study of interest rate differential and exchange rate between the United States and Korea in Chapter I, and study the theoretical and precedent research works in Chapter II, International Comprison of Interest Differential and Exchange Rate in Chapter III, Correlation of Interest Differential and exchange Rate in Chapter IV, Correlation of BIS Capital Adequacy Ratio, Stock Index, and Exchange Rate: International Comparison in Chapter V, Concluding Remarks: Toward Optimal Exchange Monitoring System in Chapter VI.

목차

Abstract
 Ⅰ. Empirical Study of Interest Differential and Exchange Rate
  1. Interest Differential between the United States and Korea
  2. Trends of Won/Dollar Exchange Rate
  3. Trends of Interest Differential and Exchange Rate
 Ⅱ. Theoretical and Precedent Studies
  1. Theoretical and Oversea's Precedent Studies
  2. Domestic Precedent Research Works
 Ⅲ. International Comparison of Interest Differential and Exchange Rate
  1. Bond-weighted Cnountries v. Stock-weighted Countries
  2. Country Credit Rating
  3. Low Price Rising Countries v. High Price Rising Countries
 Ⅳ. Correlation of Interest Differential and Exchange Rate
  1. Analysis Methodology and Data
  2. Interest Differential and Capital Movement
 Ⅴ. Correlation of BIS Capital AdequacyRatio, Stock Index, and Exchange Rate:International Comparison
 Ⅵ. Concluding Remarks: Toward an Optimal Exchange Rate Monitoring System
  1. Brief History of Korea's Foreign Exchange System
  2. Target Zone Rate System
  3. Reference Zone Rate System
  4. New Multi-Currency Basket Floating Exchange System as a ex-post facto feed-back mechanism
 List of Tables
 Major References

키워드

저자

• Jai Woong Lee [ Guest Professor, Myongji University ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330