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외환시장의 구조변화 및 안정화 방안
The structural change in the foreign exchange market and the stabilization of exchange rate
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- 발행기관
- 아시아유럽미래학회 바로가기
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- 간행물
- 유라시아연구 바로가기
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- 통권
- 제3권 제2호 통권 제6호 (2006.12)바로가기
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- 페이지
- pp.91-113
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- 저자
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- 언어
- 한국어(KOR)
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- URL
- https://www.earticle.net/Article/A302960
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원문정보
초록
- 영어
- This paper aimed to review the structural change in the foreign exchange market and to explores the stabilizing policies of exchange rate. The foreign exchange market in Korea is experiencing three important changes in the post-crisis period, which deserve special attentions for their implications on the government exchange rate policy. First, with the adoption of the free floating exchange rate system, exchange rate volatility has increased in the market. Accordingly, ensuring stable exchange rates has emerged as one of the top priorities for the exchange rate policy. The foreign exchange intervention is a useful policy instrument for reducing exchange rate volatility. The vocal intervention is an useful policy if the foreign market is a high level of transparency and confidence. Second, the capital account liberalization in Korea introduced by the government in 2005: the overseas investment promotion plan and the expiration of sunset clauses for capital account transactions. These two liberalization measures are expected to mitigate the excess supply of the U.S. dollar in the domestic foreign exchange market, which would in turn lessen policy burdens of the Korea government in managing the macro-economy. In addition, the would enhance the convertibility of the Korean won and the credibility of th Korean Economy in the global financial market. Due to these measures, however, the Korean economy may become more susceptible to speculative attack and a sudden reversal of capital inflow. Furthermore, monitoring and supervision of foreign exchange transactions are likely to be weakened. Third, like ECU of EMS, the common currency basket composed of currencies of East Asian countries should be taken as key currency for the sake of stability of regional exchange rate. The exchange rate ban should be enlarged so that we can change basic exchange speculation on the currency market. In addition, the intramarginal intervention is desirable in order to keep stable exchange under the enlarged exchange rate band.
목차
Ⅰ. 서론
Ⅱ. 환율제도 선택이론
Ⅲ. 최근 외환시장의 동향
Ⅳ. 외환시장개입에 의한 안정화
Ⅴ. 외환자유화를 통한 안정화
Ⅵ. 동아시아 금융 및 통화협력을 통한 안정화
Ⅶ. 결론
참고문헌
Abstract
키워드
Asian currency crisis Foreign exchange system Foreign exchange intervention Foreign exchange liberalization East-Asian financial and monetary cooperation.저자
간행물 정보
발행기관
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- 발행기관명
- 아시아유럽미래학회 [Asia-Europe Perspective Association]
- 설립연도
- 2001
- 분야
- 사회과학>기타사회과학
- 소개
- 본 학회는 아시아 및 유럽 대륙과 아메리카 대륙간의 역사적, 문화적 유대 아래 정치, 경제, 사회, 문화와 관련된 질서와 제도를 중심으로 한 학문의 연구를 통하여 각 분야의 발전 및 회원 상호간의 친목도모를 목적으로 한다.
간행물
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- 간행물명
- 유라시아연구 [The Journal of Eurasian Studies]
- 간기
- 계간
- pISSN
- 1738-3382
- 수록기간
- 2004~2025
- 등재여부
- KCI 등재
- 십진분류
- KDC 910 DDC 950
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